TCS Announces Quarterly Results (4QFY19); Net Profit Up 17.7%

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TCS Announces Quarterly Results (4QFY19); Net Profit Up 17.7%
Mon, 15 Apr

TCS has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m320,750373,380380,1001.8%18.5%
Other incomeRs m9,94011,63011,9302.6%20.0%
TurnoverRs m330,690385,010392,0301.8%18.5%
ExpensesRs m234,230272,550279,3602.5%19.3%
Gross profitRs m86,520100,830100,740-0.1%16.4%
DepreciationRs m5,0505,1905,3703.5%6.3%
InterestRs m12016028075.0%133.3%
Profit before taxRs m91,290107,110107,020-0.1%17.2%
TaxRs m22,04025,90025,500-1.5%15.7%
Profit after taxRs m69,25081,21081,5200.4%17.7%
Gross profit margin%27.027.026.5
Effective tax rate%24.124.223.8
Net profit margin%20.921.120.8
* 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 18.5% on a year-on-year (YoY) basis. The expenses were up by 19.3% YoY during the same period.
  • The company's operating profit increased by 16.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 26.5% in 4QFY19.
  • Depreciation charges increased by 6.3% and finance costs increased by 133.3% YoY, respectively.
  • Other income increased by 20.0% YoY during the quarter.
  • Net profit for the quarter increased by 17.7% YoY. Net profit margins during the quarter declined from 20.9% in 4QFY18 to 20.8% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.5% QoQ during the same period.
  • The company's operating profit declined by 0.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.5% in 4QFY19 as against 27.0% in 3QFY18.
  • Net profit for the quarter increased by 0.4% QoQ, while net profit margins declined from 21.1% in 3QFY18 to 20.8% in 4QFY19.

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 1,575.5 to Rs 2,066.2, registering a Gain of Rs 490.7 or around 31.1%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,422.4 (down 0.3%). Over the last one year it has moved up from 12,781.6 to 15,422.4, a gain of 2,641 points (up 20.7%).

Overall, the S&P BSE SENSEX is up 13.8% over the year.

Current Valuations

At the current price of Rs 2,066.2, the price to earnings (P/E) ratio of TCS stands at 25.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 9.3 times.

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