TCS Announces Quarterly Results (4QFY20); Net Profit Down 0.7%

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TCS Announces Quarterly Results (4QFY20); Net Profit Down 0.7%
Fri, 17 Apr

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

TCS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m380,100398,540399,4600.2%5.1%
Other incomeRs m11,9308,1807,380-9.8%-38.1%
TurnoverRs m392,030406,720406,8400.0%3.8%
ExpensesRs m279,360289,830289,7000.0%3.7%
Gross profitRs m100,740108,710109,7601.0%9.0%
DepreciationRs m5,3708,9709,5106.0%77.1%
InterestRs m2802,2302,51012.6%796.4%
Profit before taxRs m107,020105,690105,120-0.5%-1.8%
TaxRs m25,50024,26024,190-0.3%-5.1%
Profit after taxRs m81,52081,43080,930-0.6%-0.7%
Gross profit margin%26.527.327.5
Effective tax rate%23.823.023.0
Net profit margin%20.820.019.9
* 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 5.1% on a year-on-year (YoY) basis. The expenses were up by 3.7% YoY during the same period.
  • The company's operating profit increased by 9.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 27.5% in 4QFY20.
  • Depreciation charges increased by 77.1% and finance costs increased by 796.4% YoY, respectively.
  • Other income declined by 38.1% YoY during the quarter.
  • Net profit for the quarter declined by 0.7% YoY. Net profit margins during the quarter declined from 20.8% in 4QFY19 to 19.9% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.0% QoQ during the same period.
  • The company's operating profit increased by 1.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 27.5% in 4QFY20 as against 27.3% in 3QFY19.
  • Net profit for the quarter declined by 0.6% QoQ, while net profit margins declined from 20.0% in 3QFY19 to 19.9% in 4QFY20.

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 down from Rs 2,132.5 to Rs 1,808.7, registering a Loss of Rs 323.8 or around 15.2%.

Meanwhile, the S&P BSE IT Index is trading at Rs 12,805.4 (up 2.6%). Over the last one year it has moved down from 15,590.8 to 12,805.4, a loss of 2,785 points (down 17.9%).

Overall, the S&P BSE SENSEX is down 20.5% over the year.

Current Valuations

At the current price of Rs 1,808.7, the price to earnings (P/E) ratio of TCS stands at 21.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.7 times.

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