TECH MAHINDRA Announces Quarterly Results (1QFY21); Net Profit Down 0.1%

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TECH MAHINDRA Announces Quarterly Results (1QFY21); Net Profit Down 0.1%
Thu, 30 Jul

TECH MAHINDRA has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

TECH MAHINDRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m86,53094,90291,063-4.0%5.2%
Other incomeRs m3,4132,8524,16145.9%21.9%
TurnoverRs m89,94397,75495,224-2.6%5.9%
ExpensesRs m73,38983,59978,058-6.6%6.4%
Gross profitRs m13,14111,30313,00515.1%-1.0%
DepreciationRs m3,2133,9823,832-3.8%19.3%
InterestRs m454532503-5.5%10.8%
Profit before taxRs m12,8879,64112,83133.1%-0.4%
TaxRs m3,3182,3923,27637.0%-1.3%
Profit after taxRs m9,5697,2499,55531.8%-0.1%
Gross profit margin%15.211.914.3
Effective tax rate%25.724.825.5
Net profit margin%10.67.410.0
* 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 5.2% on a year-on-year (YoY) basis. The expenses were up by 6.4% YoY during the same period.
  • The company's operating profit declined by 1.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.3% in 1QFY21 as against 15.2% in 1QFY20.
  • Depreciation charges increased by 19.3% and finance costs increased by 10.8% YoY, respectively.
  • Other income increased by 21.9% YoY during the quarter.
  • Net profit for the quarter declined by 0.1% YoY. Net profit margins during the quarter declined from 10.6% in 1QFY20 to 10.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.6% QoQ during the same period.
  • The company's operating profit increased by 15.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.3% in 1QFY21 as against 11.9% in 4QFY20.
  • Net profit for the quarter increased by 31.8% QoQ, while net profit margins increased from 7.4% in 4QFY20 to 10.0% in 1QFY21.

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

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TECH MAHINDRA Share Price Performance

Over the last one year,TECH MAHINDRA share price has moved up from Rs 640.3 to Rs 681.0, registering a Gain of Rs 40.7 or around 6.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 18,391.8 (up 1.8%). Over the last one year it has moved up from 15,639.5 to 18,391.8, a gain of 2,752 points (up 17.6%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 681.0, the price to earnings (P/E) ratio of TECH MAHINDRA stands at 17.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.3 times.

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Nov 25, 2020 03:36 PM

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