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AJANTA PHARMA Announces Quarterly Results (2QFY19); Net Profit Down 4.9%

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AJANTA PHARMA Announces Quarterly Results (2QFY19); Net Profit Down 4.9%
Tue, 6 Nov

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

AJANTA PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m5,4045,1105,4416.5%0.7%
Other incomeRs m928115287.5%66.0%
TurnoverRs m5,4965,1915,5947.7%1.8%
ExpensesRs m3,5673,5353,7796.9%6.0%
Gross profitRs m1,8371,5751,6625.5%-9.5%
DepreciationRs m1461721751.9%20.2%
InterestRs m121-23.5%44.4%
Profit before taxRs m1,7831,4831,63810.5%-8.1%
TaxRs m464425385-9.5%-17.1%
Profit after taxRs m1,3191,0581,25418.5%-4.9%
Gross profit margin%34.030.830.5
Effective tax rate%26.028.723.5
Net profit margin%24.020.422.4
* 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 0.7% on a year-on-year (YoY) basis. The expenses were up by 6.0% YoY during the same period.
  • The company's operating profit declined by 9.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.5% in 2QFY19 as against 34.0% in 2QFY18.
  • Depreciation charges increased by 20.2% and finance costs increased by 44.4% YoY, respectively.
  • Other income increased by 66.0% YoY during the quarter.
  • Net profit for the quarter declined by 4.9% YoY. Net profit margins during the quarter declined from 24.0% in 2QFY18 to 22.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.9% QoQ during the same period.
  • The company's operating profit declined by 5.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 30.5% in 2QFY19 as against 30.8% in 1QFY18.
  • Net profit for the quarter increased by 18.5% QoQ, while net profit margins increased from 20.4% in 1QFY18 to 22.4% in 2QFY19.

To see how AJANTA PHARMA has performed over the last eight quarters, please visit here.

AJANTA PHARMA Share Price Performance

Over the last one year, AJANTA PHARMA share price has moved up from Rs 1,232.2 to Rs 1,064.4, registering a Loss of Rs 167.8 or around 13.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,467.5 (down 0.0%). Over the last one year it has moved down from 14,548.5 to 14,467.5, a gain of 81 points (down 0.6%).

Overall, the S&P BSE SENSEX is up 4.0% over the year.

Current Valuations

At the current price of Rs 1,064.4, the price to earnings (P/E) ratio of AJANTA PHARMA stands at 19.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

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For the quarter ended March 2019, AJANTA PHARMA has posted a net profit of Rs 889 m (down 5.9% YoY). Sales on the other hand came in at Rs 5 bn (down 2.9% YoY). Read on for a complete analysis of AJANTA PHARMA's quarterly results.

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