Tech Mahindra Q4FY16 consolidated net profit rises 18% qoq to Rs.897.08 crore : Estimates Mixed

India Infoline News Service | Mumbai | May 24, 2016 16:10 IST

The company’s consolidated revenue stood at Rs. 6,883.73 crore, up 2.72% qoq and 12.54% yoy.

Tech Mahindra, leading provider of IT solutions, reported consolidated net profit of Rs. 897.08 crore for the quarter ended March 31, 2016, registering growth of 18.15% qoq and 90.06% yoy. The company’s revenue stood at Rs. 6,883.73 crore, clocking growth of 2.72% qoq and 12.54% yoy.

It's consolidated operating profit of Rs. 1,161.31 crore for the quarter, grew 2.25% qoq and 23.99% yoy. Operating profit margin for the current quarter at 16.87% contracted by 8 bps qoq but expanded by 156 bps yoy.

For the year ended March 31, 2016, the company reported consolidated net profit of Rs. 3,118.02 crore, up by 18.66% yoy. It's consolidated revenue for the current period stood at Rs. 26,494.23 crore, registering growth of 17.12% yoy.

Tech Mahindra Ltd's consolidated core operating profit for the current period stood at Rs. 4,318.41 crore, increasing by 3.01% yoy. Operating margin for the current period at 16.41% contracted by 83 bps yoy.

On standalone basis, the company reported net profit of Rs. 829.54 crore for the quarter ended March 31, 2016, registering growth of 34.6% qoq and 93.37% yoy. It’s revenue stood at Rs. 5,466.85 crore, clocking growth of 6.1% qoq and 16.14% yoy.

Tech Mahindra Ltd's operating profit of Rs. 926.84 crore for the quarter, grew 10.53% qoq and 46.76% yoy. Operating profit margin for the current quarter at 16.95% expanded by 68 bps qoq and 353 bps yoy.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 3,220 crore, up by 42.72% yoy. It's standalone revenue for the current period stood at Rs. 20,969.81 crore, registering growth of 9.43% yoy.

Tech Mahindra Ltd's core operating profit for the current period stood at Rs. 3,413.67 crore, increasing by 4.53% yoy. Operating margin for the current period at 16.42% contracted by 62 bps yoy.

Result Highlights: (Rs. in crore)

Reported Results IIFL Estimates Variance (%)
Consolidated Revenue 6883.73 6999.16 [1.65]
Consolidated Net Profit 897.08 746.01 20.25

Standalone EPS for the quarter stood at Rs. 8.60.

Bloomberg estimated the company’s consolidated net profit at Rs. 746 crore.

Stock Commentary:

Tech Mahindra Ltd ended at Rs. 479.25, up by 2.6 points or 0.55% from its previous closing of Rs. 476.65 on the BSE.

The scrip opened at Rs. 476.8 and touched a high and low of Rs. 485 and Rs. 465.05 respectively. A total of 2779022(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 46259.73 crore.

The BSE group 'A' stock of face value Rs. 5 touched a 52 week high of Rs. 668.75 on 25-May-2015 and a 52 week low of Rs. 407.5 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 493.05 and Rs. 472.8 respectively.

The promoters holding in the company stood at 36.44 % while Institutions and Non-Institutions held 49.15 % and 14.34 % respectively.

The stock traded below its 200 DMA.


***Note: This is a NSE Chart

 

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