TECH MAHINDRA Announces Quarterly Results (2QFY20); Net Profit Up 3.9%

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TECH MAHINDRA Announces Quarterly Results (2QFY20); Net Profit Up 3.9%
Fri, 8 Nov

TECH MAHINDRA has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

TECH MAHINDRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m86,29986,53090,6994.8%5.1%
Other incomeRs m1,7513,4132,163-36.6%23.5%
TurnoverRs m88,04989,94392,8623.2%5.5%
ExpensesRs m70,11173,38975,6903.1%8.0%
Gross profitRs m16,18813,14115,00914.2%-7.3%
DepreciationRs m2,9443,2133,4156.3%16.0%
InterestRs m388454383-15.6%-1.2%
Profit before taxRs m14,60612,88713,3743.8%-8.4%
TaxRs m3,9143,3182,265-31.7%-42.1%
Profit after taxRs m10,6929,56911,10916.1%3.9%
Gross profit margin%18.815.216.5
Effective tax rate%26.825.716.9
Net profit margin%12.110.612.0
* 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 5.1% on a year-on-year (YoY) basis. The expenses were up by 8.0% YoY during the same period.
  • The company's operating profit declined by 7.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.5% in 2QFY20 as against 18.8% in 2QFY19.
  • Depreciation charges increased by 16.0% and finance costs declined by 1.2% YoY, respectively.
  • Other income increased by 23.5% YoY during the quarter.
  • Net profit for the quarter increased by 3.9% YoY. Net profit margins during the quarter declined from 12.1% in 2QFY19 to 12.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit increased by 14.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.5% in 2QFY20 as against 15.2% in 1QFY19.
  • Net profit for the quarter increased by 16.1% QoQ, while net profit margins increased from 10.6% in 1QFY19 to 12.0% in 2QFY20.

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 699.5 to Rs 774.4, registering a Gain of Rs 74.9 or around 10.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,388.8 (down 0.6%). Over the last one year it has moved up from 14,375.1 to 15,388.8, a gain of 1,014 points (up 7.1%).

Overall, the S&P BSE SENSEX is up 15.1% over the year.

Current Valuations

At the current price of Rs 774.4, the price to earnings (P/E) ratio of TECH MAHINDRA stands at 17.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.7 times.

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