TECH MAHINDRA Announces Quarterly Results (3QFY19); Net Profit Up 30.6%

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TECH MAHINDRA Announces Quarterly Results (3QFY19); Net Profit Up 30.6%
Wed, 13 Feb

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

TECH MAHINDRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m77,76086,29989,4373.6%15.0%
Other incomeRs m2,2501,751806-54.0%-64.2%
TurnoverRs m80,01088,04990,2432.5%12.8%
ExpensesRs m65,11470,11172,2113.0%10.9%
Gross profitRs m12,64616,18817,0945.6%35.2%
DepreciationRs m2,7422,9442,836-3.7%3.4%
InterestRs m341388358-7.7%5.0%
Profit before taxRs m11,81414,60614,7060.7%24.5%
TaxRs m2,5703,9142,638-32.6%2.6%
Profit after taxRs m9,24310,69212,06812.9%30.6%
Gross profit margin%16.318.819.1
Effective tax rate%21.826.817.9
Net profit margin%11.612.113.4
* 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 15.0% on a year-on-year (YoY) basis. The expenses were up by 10.9% YoY during the same period.
  • The company's operating profit increased by 35.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.1% in 3QFY19 as against 16.3% in 3QFY18.
  • Depreciation charges increased by 3.4% and finance costs increased by 5.0% YoY, respectively.
  • Other income declined by 64.2% YoY during the quarter.
  • Net profit for the quarter increased by 30.6% YoY. Net profit margins during the quarter increased from 11.6% in 3QFY18 to 13.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.0% QoQ during the same period.
  • The company's operating profit increased by 5.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.1% in 3QFY19 as against 18.8% in 2QFY18.
  • Net profit for the quarter increased by 12.9% QoQ, while net profit margins increased from 12.1% in 2QFY18 to 13.4% in 3QFY19.

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 589.3 to Rs 803.4, registering a Gain of Rs 214.1 or around 36.3%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,580.5 (up 0.5%). Over the last one year it has moved up from 12,064.5 to 15,580.5, a gain of 3,516 points (up 29.1%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 803.4, the price to earnings (P/E) ratio of TECH MAHINDRA stands at 17.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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