TCS Announces Quarterly Results (2QFY22); Net Profit Up 28.6%

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TCS Announces Quarterly Results (2QFY22); Net Profit Up 28.6%
Thu, 14 Oct

TCS has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m401,350454,110468,6703.2%16.8%
Other incomeRs m9,1407,21011,11054.1%21.6%
TurnoverRs m410,490461,320479,7804.0%16.9%
ExpensesRs m286,220327,480337,5103.1%17.9%
Gross profitRs m102,950126,630131,1603.6%27.4%
DepreciationRs m9,98010,75011,1603.8%11.8%
InterestRs m1,7401,4601,420-2.7%-18.4%
Profit before taxRs m100,370121,630129,6906.6%29.2%
TaxRs m25,33031,32033,1605.9%30.9%
Profit after taxRs m75,04090,31096,5306.9%28.6%
Gross profit margin%25.727.928.0
Effective tax rate%25.225.825.6
Net profit margin%18.319.620.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 16.8% on a year-on-year (YoY) basis. The expenses were up by 17.9% YoY during the same period.
  • The company's operating profit increased by 27.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 28.0% in 2QFY22 as against 25.7% in 2QFY21.
  • Depreciation charges increased by 11.8% and finance costs declined by 18.4% YoY, respectively.
  • Other income increased by 21.6% YoY during the quarter.
  • Net profit for the quarter increased by 28.6% YoY. Net profit margins during the quarter increased from 18.3% in 2QFY21 to 20.1% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit increased by 3.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 28.0% in 2QFY22 as against 27.9% in 1QFY21.
  • Net profit for the quarter increased by 6.9% QoQ, while net profit margins increased from 19.6% in 1QFY21 to 20.1% in 2QFY22.

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 2,809.8 to Rs 3,632.1, registering a Gain of Rs 822.3 or around 29.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 35,287.7 (up 1.4%). Over the last one year it has moved up from 22,312.6 to 35,287.7, a gain of 12,975 points (up 58.2%).

Overall, the S&P BSE SENSEX is up 50.4% over the year.

Current Valuations

At the current price of Rs 3,632.1, the price to earnings (P/E) ratio of TCS stands at 36.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.5 times.

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