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TCS Announces Quarterly Results (3QFY19); Net Profit Up 24.1%

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TCS Announces Quarterly Results (3QFY19); Net Profit Up 24.1%
Fri, 11 Jan

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

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m309,040368,540373,3801.3%20.8%
Other incomeRs m8,7007,30011,63059.3%33.7%
TurnoverRs m317,740375,840385,0102.4%21.2%
ExpensesRs m226,170264,390272,5503.1%20.5%
Gross profitRs m82,870102,780100,830-1.9%21.7%
DepreciationRs m5,0605,0705,1902.4%2.6%
InterestRs m601,370160-88.3%166.7%
Profit before taxRs m86,450103,640107,1103.3%23.9%
TaxRs m21,00024,37025,9006.3%23.3%
Profit after taxRs m65,45079,27081,2102.4%24.1%
Gross profit margin%26.827.927.0
Effective tax rate%24.323.524.2
Net profit margin%20.621.121.1
* 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 20.8% on a year-on-year (YoY) basis. The expenses were up by 20.5% YoY during the same period.
  • The company's operating profit increased by 21.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 27.0% in 3QFY19.
  • Depreciation charges increased by 2.6% and finance costs increased by 166.7% YoY, respectively.
  • Other income increased by 33.7% YoY during the quarter.
  • Net profit for the quarter increased by 24.1% YoY. Net profit margins during the quarter increased from 20.6% in 3QFY18 to 21.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit declined by 1.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 27.0% in 3QFY19 as against 27.9% in 2QFY18.
  • Net profit for the quarter increased by 2.4% QoQ, while net profit margins increased from 21.1% in 2QFY18 to 21.1% in 3QFY19.

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 1,394.2 to Rs 1,843.3, registering a Gain of Rs 449.1 or around 32.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 13,945.5 (down 1.1%). Over the last one year it has moved up from 11,696.3 to 13,945.5, a gain of 2,249 points (up 19.2%).

Overall, the S&P BSE SENSEX is up 4.4% over the year.

Current Valuations

At the current price of Rs 1,843.3, the price to earnings (P/E) ratio of TCS stands at 23.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 8.3 times.

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