AJANTA PHARMA Announces Quarterly Results (3QFY19); Net Profit Down 54.6%

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AJANTA PHARMA Announces Quarterly Results (3QFY19); Net Profit Down 54.6%
Fri, 1 Feb

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

AJANTA PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m5,8715,4414,851-10.8%-17.4%
Other incomeRs m15215244-71.1%-70.9%
TurnoverRs m6,0225,5944,895-12.5%-18.7%
ExpensesRs m3,8963,7793,7780.0%-3.0%
Gross profitRs m1,9751,6621,073-35.4%-45.7%
DepreciationRs m1501751876.7%24.6%
InterestRs m111-30.8%-35.7%
Profit before taxRs m1,9751,638930-43.3%-52.9%
TaxRs m501385261-32.2%-47.9%
Profit after taxRs m1,4751,254669-46.6%-54.6%
Gross profit margin%33.630.522.1
Effective tax rate%25.323.528.0
Net profit margin%24.522.413.7
* 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 17.4% on a year-on-year (YoY) basis. The expenses were down by 3.0% YoY during the same period.
  • The company's operating profit declined by 45.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.1% in 3QFY19 as against 33.6% in 3QFY18.
  • Depreciation charges increased by 24.6% and finance costs declined by 35.7% YoY, respectively.
  • Other income declined by 70.9% YoY during the quarter.
  • Net profit for the quarter declined by 54.6% YoY. Net profit margins during the quarter declined from 24.5% in 3QFY18 to 13.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.0% QoQ during the same period.
  • The company's operating profit declined by 35.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.1% in 3QFY19 as against 30.5% in 2QFY18.
  • Net profit for the quarter declined by 46.6% QoQ, while net profit margins declined from 22.4% in 2QFY18 to 13.7% in 3QFY19.

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 1,408.5 to Rs 992.3, registering a Loss of Rs 416.3 or around 29.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,916.8 (up 0.3%). Over the last one year it has moved down from 14,358.7 to 13,916.8, a gain of 442 points (down 3.1%).

Overall, the S&P BSE SENSEX is up 1.2% over the year.

Current Valuations

At the current price of Rs 992.3, the price to earnings (P/E) ratio of AJANTA PHARMA stands at 22.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.3 times.

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