TCS Announces Quarterly Results (2QFY21); Net Profit Down 6.9%

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TCS Announces Quarterly Results (2QFY21); Net Profit Down 6.9%
Thu, 8 Oct

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

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m389,770383,220401,3504.7%3.0%
Other incomeRs m13,6105,9809,14052.8%-32.8%
TurnoverRs m403,380389,200410,4905.5%1.8%
ExpensesRs m287,520282,980298,4005.4%3.8%
Gross profitRs m102,250100,240102,9502.7%0.7%
DepreciationRs m8,6409,7609,9802.3%15.5%
InterestRs m1,9301,4201,74022.5%-9.8%
Profit before taxRs m105,29095,040100,3705.6%-4.7%
TaxRs m24,71024,55025,3303.2%2.5%
Profit after taxRs m80,58070,49075,0406.5%-6.9%
Gross profit margin%26.226.225.7
Effective tax rate%23.525.825.2
Net profit margin%20.018.118.3
* 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 3.0% on a year-on-year (YoY) basis. The expenses were up by 3.8% YoY during the same period.
  • The company's operating profit increased by 0.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 25.7% in 2QFY21.
  • Depreciation charges increased by 15.5% and finance costs declined by 9.8% YoY, respectively.
  • Other income declined by 32.8% YoY during the quarter.
  • Net profit for the quarter declined by 6.9% YoY. Net profit margins during the quarter declined from 20.0% in 2QFY20 to 18.3% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.4% QoQ during the same period.
  • The company's operating profit increased by 2.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.7% in 2QFY21 as against 26.2% in 1QFY20.
  • Net profit for the quarter increased by 6.5% QoQ, while net profit margins increased from 18.1% in 1QFY20 to 18.3% in 2QFY21.

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

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TCS Share Price Performance

Over the last one year, TCS share price has moved up from Rs 2,052.9 to Rs 2,800.0, registering a Gain of Rs 747.2 or around 36.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 21,848.5 (up 2.9%). Over the last one year it has moved up from 15,381.6 to 21,848.5, a gain of 6,467 points (up 42.0%).

Overall, the S&P BSE SENSEX is up 7.2% over the year.

Current Valuations

At the current price of Rs 2,800.0, the price to earnings (P/E) ratio of TCS stands at 34.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 12.7 times.

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