BIOCON Announces Quarterly Results (2QFY21); Net Profit Down 23.9%

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BIOCON Announces Quarterly Results (2QFY21); Net Profit Down 23.9%
Thu, 29 Oct

BIOCON has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

BIOCON Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m15,72216,71317,4484.4%11.0%
Other incomeRs m384183155-15.3%-59.6%
TurnoverRs m16,10616,89617,6034.2%9.3%
ExpensesRs m11,69412,58013,5347.6%15.7%
Gross profitRs m4,7034,1333,914-5.3%-16.8%
DepreciationRs m1,3161,6681,7776.5%35.0%
InterestRs m13812565-48.0%-52.9%
Profit before taxRs m3,6332,5232,227-11.7%-38.7%
TaxRs m1,001809223-72.4%-77.7%
Profit after taxRs m2,6321,7142,00416.9%-23.9%
Gross profit margin%29.924.722.4
Effective tax rate%27.632.110.0
Net profit margin%16.310.111.4
* 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 11.0% on a year-on-year (YoY) basis. The expenses were up by 15.7% YoY during the same period.
  • The company's operating profit declined by 16.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.4% in 2QFY21 as against 29.9% in 2QFY20.
  • Depreciation charges increased by 35.0% and finance costs declined by 52.9% YoY, respectively.
  • Other income declined by 59.6% YoY during the quarter.
  • Net profit for the quarter declined by 23.9% YoY. Net profit margins during the quarter declined from 16.3% in 2QFY20 to 11.4% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.6% QoQ during the same period.
  • The company's operating profit declined by 5.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 22.4% in 2QFY21 as against 24.7% in 1QFY20.
  • Net profit for the quarter increased by 16.9% QoQ, while net profit margins increased from 10.1% in 1QFY20 to 11.4% in 2QFY21.

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

Last Day: Watch the Replay of Great Indian Wealth Project Special Event

BIOCON Share Price Performance

Over the last one year, BIOCON share price has moved up from Rs 244.1 to Rs 408.1, registering a Gain of Rs 164.0 or around 67.2%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 19,405.5 (up 0.0%). Over the last one year it has moved up from 13,101.5 to 19,405.5, a gain of 6,304 points (up 48.1%).

Overall, the S&P BSE SENSEX is up 1.4% over the year.

Current Valuations

At the current price of Rs 408.1, the price to earnings (P/E) ratio of BIOCON stands at 31.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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Related Views on News

BIOCON Announces Quarterly Results (3QFY21); Net Profit Down 19.7% (Quarterly Result Update)

Jan 25, 2021 | Updated on Jan 25, 2021

For the quarter ended December 2020, BIOCON has posted a net profit of Rs 2 bn (down 19.7% YoY). Sales on the other hand came in at Rs 19 bn (up 5.9% YoY). Read on for a complete analysis of BIOCON 's quarterly results.

BIOCON Announces Quarterly Results (3QFY20); Net Profit Up 1.2% (Quarterly Result Update)

Jan 24, 2020 | Updated on Jan 24, 2020

For the quarter ended December 2019, BIOCON has posted a net profit of Rs 2 bn (up 1.2% YoY). Sales on the other hand came in at Rs 17 bn (up 13.5% YoY). Read on for a complete analysis of BIOCON 's quarterly results.

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