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TCS Announces Quarterly Results (2QFY19); Net Profit Up 22.7%

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TCS Announces Quarterly Results (2QFY19); Net Profit Up 22.7%
Fri, 12 Oct

TCS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m305,410342,610368,5407.6%20.7%
Other incomeRs m8,19012,2507,300-40.4%-10.9%
TurnoverRs m313,600354,860375,8405.9%19.8%
ExpensesRs m223,770251,900264,3905.0%18.2%
Gross profitRs m81,64090,710102,78013.3%25.9%
DepreciationRs m5,0404,9305,0702.8%0.6%
InterestRs m701701,370705.9%1857.1%
Profit before taxRs m84,72097,860103,6405.9%22.3%
TaxRs m20,12024,24024,3700.5%21.1%
Profit after taxRs m64,60073,62079,2707.7%22.7%
Gross profit margin%26.726.527.9
Effective tax rate%23.724.823.5
Net profit margin%20.620.721.1
* 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 20.7% on a year-on-year (YoY) basis. The expenses were up by 18.2% YoY during the same period.
  • The company's operating profit increased by 25.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.9% in 2QFY19 as against 26.7% in 2QFY18.
  • Depreciation charges and finance costs increased by 0.6% YoY and 1857.1% YoY, respectively.
  • Other income declined by 10.9% YoY during the quarter.
  • Net profit for the quarter increased by 22.7% YoY. Net profit margins during the quarter increased from 20.6% in 2QFY18 to 21.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.0% QoQ during the same period.
  • The company's operating profit increased by 13.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.9% in 2QFY19 as against 26.5% in 1QFY18.
  • Net profit for the quarter increased by 7.7% QoQ, while net profit margins increased from 20.7% in 1QFY18 to 21.1% in 2QFY19.

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

TCS Share Price Performance

Over the last one year, TCS share price has moved up from Rs 1,274.3 to Rs 1,926.6, registering a Gain of Rs 652.3 or around 51.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,215.2 (down 1.4%). Over the last one year it has moved up from 10,322.1 to 14,215.2, a gain of 3,893 points (up 37.7%).

Overall, the S&P BSE SENSEX is up 8.8% over the year.

Current Valuations

At the current price of Rs 1,926.6, the price to earnings (P/E) ratio of TCS stands at 25.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.7 times.

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