TECH MAHINDRA Announces Quarterly Results (3QFY21); Net Profit Up 16.1%

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TECH MAHINDRA Announces Quarterly Results (3QFY21); Net Profit Up 16.1%
Mon, 1 Feb

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

TECH MAHINDRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m96,54693,71896,4712.9%-0.1%
Other incomeRs m3,4961,1752,20988.0%-36.8%
TurnoverRs m100,04294,89398,6804.0%-1.4%
ExpensesRs m80,91376,68877,5161.1%-4.2%
Gross profitRs m15,63817,03418,96011.3%21.2%
DepreciationRs m3,8483,7173,584-3.6%-6.9%
InterestRs m5503994215.5%-23.5%
Profit before taxRs m14,73614,09317,16421.8%16.5%
TaxRs m3,6293,4624,26323.1%17.5%
Profit after taxRs m11,10710,63112,90121.4%16.1%
Gross profit margin%16.218.219.7
Effective tax rate%24.624.624.8
Net profit margin%11.111.213.1
* 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 fell 0.1% on a year-on-year (YoY) basis. The expenses were down by 4.2% YoY during the same period.
  • The company's operating profit increased by 21.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.7% in 3QFY21 as against 16.2% in 3QFY20.
  • Depreciation charges declined by 6.9% and finance costs declined by 23.5% YoY, respectively.
  • Other income declined by 36.8% YoY during the quarter.
  • Net profit for the quarter increased by 16.1% YoY. Net profit margins during the quarter increased from 11.1% in 3QFY20 to 13.1% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.1% QoQ during the same period.
  • The company's operating profit increased by 11.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.7% in 3QFY21 as against 18.2% in 2QFY20.
  • Net profit for the quarter increased by 21.4% QoQ, while net profit margins increased from 11.2% in 2QFY20 to 13.1% in 3QFY21.

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 807.5 to Rs 942.0, registering a Gain of Rs 134.5 or around 16.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 25,145.2 (up 1.3%). Over the last one year it has moved up from 16,094.9 to 25,145.2, a gain of 9,050 points (up 56.2%).

Overall, the S&P BSE SENSEX is up 18.6% over the year.

Current Valuations

At the current price of Rs 942.0, the price to earnings (P/E) ratio of TECH MAHINDRA stands at 22.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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