BIOCON Announces Quarterly Results (1QFY20); Net Profit Down 11.5%

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BIOCON Announces Quarterly Results (1QFY20); Net Profit Down 11.5%
Mon, 29 Jul

BIOCON has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

BIOCON Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m11,2387,6394,808-37.1%-57.2%
Other incomeRs m68813925382.0%-63.2%
TurnoverRs m11,9267,7785,061-34.9%-57.6%
ExpensesRs m8,8606,6544,074-38.8%-54.0%
Gross profitRs m2,3789851,55457.8%-34.7%
DepreciationRs m991375240-36.0%-75.8%
InterestRs m17665-16.7%-97.2%
Profit before taxRs m1,8997431,562110.2%-17.7%
TaxRs m52138342800.0%-34.4%
Profit after taxRs m1,3787051,22073.0%-11.5%
Gross profit margin%21.212.932.3
Effective tax rate%27.45.121.9
Net profit margin%11.69.124.1
* 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 57.2% on a year-on-year (YoY) basis. The expenses were down by 54.0% YoY during the same period.
  • The company's operating profit declined by 34.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.3% in 1QFY20 as against 21.2% in 1QFY19.
  • Depreciation charges declined by 75.8% and finance costs declined by 97.2% YoY, respectively.
  • Other income declined by 63.2% YoY during the quarter.
  • Net profit for the quarter declined by 11.5% YoY. Net profit margins during the quarter increased from 11.6% in 1QFY19 to 24.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 37.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 38.8% QoQ during the same period.
  • The company's operating profit increased by 57.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 32.3% in 1QFY20 as against 12.9% in 4QFY19.
  • Net profit for the quarter increased by 73.0% QoQ, while net profit margins increased from 9.1% in 4QFY19 to 24.1% in 1QFY20.

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

BIOCON Share Price Performance

Over the last one year,BIOCON share price has moved down from Rs 293.4 to Rs 236.8, registering a Loss of Rs 56.6 or around 19.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 12,774.7 (down 1.4%). Over the last one year it has moved down from 14,027.7 to 12,774.7, a gain of 1,253 points (down 8.9%).

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 236.8, the price to earnings (P/E) ratio of BIOCON stands at 17.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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