MINDTREE Announces Quarterly Results (4QFY20); Net Profit Up 3.9%

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MINDTREE Announces Quarterly Results (4QFY20); Net Profit Up 3.9%
Mon, 27 Apr

MINDTREE has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

MINDTREE Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m18,39419,65320,5054.3%11.5%
Other incomeRs m290348183-47.4%-36.9%
TurnoverRs m18,68420,00120,6883.4%10.7%
ExpensesRs m15,59116,59017,2684.1%10.8%
Gross profitRs m2,8033,0633,2375.7%15.5%
DepreciationRs m428699679-2.9%58.6%
InterestRs m0133128-3.8%0.0%
Profit before taxRs m2,6652,5792,6131.3%-2.0%
TaxRs m681609551-9.5%-19.1%
Profit after taxRs m1,9841,9702,0624.7%3.9%
Gross profit margin%15.215.615.8
Effective tax rate%25.623.621.1
Net profit margin%10.69.810.0
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 11.5% on a year-on-year (YoY) basis. The expenses were up by 10.8% YoY during the same period.
  • The company's operating profit increased by 15.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 4QFY20 as against 15.2% in 4QFY19.
  • Depreciation charges increased by 58.6% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 36.9% YoY during the quarter.
  • Net profit for the quarter increased by 3.9% YoY. Net profit margins during the quarter declined from 10.6% in 4QFY19 to 10.0% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.1% QoQ during the same period.
  • The company's operating profit increased by 5.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.8% in 4QFY20 as against 15.6% in 3QFY19.
  • Net profit for the quarter increased by 4.7% QoQ, while net profit margins increased from 9.8% in 3QFY19 to 10.0% in 4QFY20.

To see how MINDTREE has performed over the last eight quarters,please visit here.

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MINDTREE Share Price Performance

Over the last one year,MINDTREE share price has moved down from Rs 976.3 to Rs 852.7, registering a Loss of Rs 123.6 or around 12.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,229.3 (up 2.1%). Over the last one year it has moved down from 16,044.8 to 13,229.3, a loss of 2,815 points (down 17.5%).

Overall, the S&P BSE SENSEX is down 18.0% over the year.

Current Valuations

At the current price of Rs 852.7, the price to earnings (P/E) ratio of MINDTREE stands at 23.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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