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TECH MAHINDRA Announces Quarterly Results (2QFY19); Net Profit Up 27.4%

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TECH MAHINDRA Announces Quarterly Results (2QFY19); Net Profit Up 27.4%
Tue, 6 Nov

TECH MAHINDRA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

TECH MAHINDRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m76,06482,76386,2994.3%13.5%
Other incomeRs m3,2221,1141,75157.1%-45.7%
TurnoverRs m79,28683,87788,0495.0%11.1%
ExpensesRs m65,00769,19470,1111.3%7.9%
Gross profitRs m11,05713,56916,18819.3%46.4%
DepreciationRs m2,6532,8082,9444.9%11.0%
InterestRs m38630538827.0%0.3%
Profit before taxRs m11,24011,57114,60626.2%29.9%
TaxRs m2,8472,4573,91459.3%37.5%
Profit after taxRs m8,3939,11310,69217.3%27.4%
Gross profit margin%14.516.418.8
Effective tax rate%25.321.226.8
Net profit margin%10.610.912.1
* 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 13.5% on a year-on-year (YoY) basis. The expenses were up by 7.9% YoY during the same period.
  • The company's operating profit increased by 46.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.8% in 2QFY19 as against 14.5% in 2QFY18.
  • Depreciation charges increased by 11.0% and finance costs increased by 0.3% YoY, respectively.
  • Other income declined by 45.7% YoY during the quarter.
  • Net profit for the quarter increased by 27.4% YoY. Net profit margins during the quarter increased from 10.6% in 2QFY18 to 12.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.3% QoQ during the same period.
  • The company's operating profit increased by 19.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.8% in 2QFY19 as against 16.4% in 1QFY18.
  • Net profit for the quarter increased by 17.3% QoQ, while net profit margins increased from 10.9% in 1QFY18 to 12.1% in 2QFY19.

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

TECH MAHINDRA Share Price Performance

Over the last one year, TECH MAHINDRA share price has moved up from Rs 460.3 to Rs 697.0, registering a Gain of Rs 236.7 or around 51.4%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,214.1 (up 0.9%). Over the last one year it has moved up from 10,474.4 to 14,214.1, a gain of 3,740 points (up 35.7%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 697.0, the price to earnings (P/E) ratio of TECH MAHINDRA stands at 16.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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