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MINDTREE LTD Announces Quarterly Results (2QFY19); Net Profit Up 65.4%

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MINDTREE LTD Announces Quarterly Results (2QFY19); Net Profit Up 65.4%
Fri, 19 Oct

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

MINDTREE LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m13,31616,39517,5547.1%31.8%
Other incomeRs m59827952487.8%-12.4%
TurnoverRs m13,91416,67418,0788.4%29.9%
ExpensesRs m11,77514,08514,8555.5%26.2%
Gross profitRs m1,5412,3102,69916.8%75.1%
DepreciationRs m4544004030.8%-11.2%
InterestRs m25281-96.4%-96.0%
Profit before taxRs m1,6602,1612,81930.4%69.8%
TaxRs m41357975630.6%83.1%
Profit after taxRs m1,2471,5822,06330.4%65.4%
Gross profit margin%11.614.115.4
Effective tax rate%24.926.826.8
Net profit margin%9.09.511.4
* 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 31.8% on a year-on-year (YoY) basis. The expenses were up by 26.2% YoY during the same period.
  • The company's operating profit increased by 75.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.4% in 2QFY19 as against 11.6% in 2QFY18.
  • Depreciation charges and finance costs declined by 11.2% YoY and 96.0% YoY, respectively.
  • Other income declined by 12.4% YoY during the quarter.
  • Net profit for the quarter increased by 65.4% YoY. Net profit margins during the quarter increased from 9.0% in 2QFY18 to 11.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.5% QoQ during the same period.
  • The company's operating profit increased by 16.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.4% in 2QFY19 as against 14.1% in 1QFY18.
  • Net profit for the quarter increased by 30.4% QoQ, while net profit margins increased from 9.5% in 1QFY18 to 11.4% in 2QFY19.

To see how MINDTREE LTD has performed over the last eight quarters, please visit here.

MINDTREE LTD Share Price Performance

Over the last one year, MINDTREE LTD share price has moved up from Rs 498.4 to Rs 826.0, registering a Gain of Rs 327.7 or around 65.7%.

Meanwhile, the S&P BSE IT Index is trading at Rs 14,246.8 (down 2.9%). Over the last one year it has moved up from 10,360.4 to 14,246.8, a gain of 3,886 points (up 37.5%).

Overall, the S&P BSE SENSEX is up 5.6% over the year.

Current Valuations

At the current price of Rs 826.0, the price to earnings (P/E) ratio of MINDTREE LTD stands at 20.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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