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TECH MAHINDRA Announces Quarterly Results (4QFY19); Net Profit Down 8.5%

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TECH MAHINDRA Announces Quarterly Results (4QFY19); Net Profit Down 8.5%
Fri, 24 May

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

TECH MAHINDRA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m80,54589,43788,923-0.6%10.4%
Other incomeRs m4,5138061,671107.3%-63.0%
TurnoverRs m85,05890,24390,5940.4%6.5%
ExpensesRs m66,42672,21172,5360.5%9.2%
Gross profitRs m14,11917,09416,115-5.7%14.1%
DepreciationRs m2,9862,8362,704-4.7%-9.5%
InterestRs m527358281-21.5%-46.7%
Profit before taxRs m15,11814,70614,8010.6%-2.1%
TaxRs m2,8102,6383,53534.0%25.8%
Profit after taxRs m12,30812,06811,266-6.6%-8.5%
Gross profit margin%17.519.118.1
Effective tax rate%18.617.923.9
Net profit margin%14.513.412.4
* 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 10.4% on a year-on-year (YoY) basis. The expenses were up by 9.2% YoY during the same period.
  • The company's operating profit increased by 14.1% YoY during the quarter. Consequently, operating profit margins remained same and stood at 18.1% in 4QFY19.
  • Depreciation charges declined by 9.5% and finance costs declined by 46.7% YoY, respectively.
  • Other income declined by 63.0% YoY during the quarter.
  • Net profit for the quarter declined by 8.5% YoY. Net profit margins during the quarter declined from 14.5% in 4QFY18 to 12.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.5% QoQ during the same period.
  • The company's operating profit declined by 5.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.1% in 4QFY19 as against 19.1% in 3QFY18.
  • Net profit for the quarter declined by 6.6% QoQ, while net profit margins declined from 13.4% in 3QFY18 to 12.4% in 4QFY19.

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 710.4 to Rs 735.5, registering a Gain of Rs 25.1 or around 3.5%.

Meanwhile, the S&P BSE IT Index is trading at Rs 15,035.2 (down 0.2%). Over the last one year it has moved up from 13,529.5 to 15,035.2, a gain of 1,506 points (up 11.1%).

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 735.5, the price to earnings (P/E) ratio of TECH MAHINDRA stands at 16.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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