BIOCON Announces Quarterly Results (2QFY22); Net Profit Up 4.9%

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BIOCON Announces Quarterly Results (2QFY22); Net Profit Up 4.9%
Tue, 26 Oct

BIOCON has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

BIOCON Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m17,49817,60618,4044.5%5.2%
Other incomeRs m1554721,049122.2%576.8%
TurnoverRs m17,65318,07819,4537.6%10.2%
ExpensesRs m13,58413,71313,9461.7%2.7%
Gross profitRs m3,9143,8933,757-3.5%-4.0%
DepreciationRs m1,7771,9482,0153.4%13.4%
InterestRs m6519922513.1%246.2%
Profit before taxRs m2,2272,2182,56615.7%15.2%
TaxRs m223573463-19.2%107.6%
Profit after taxRs m2,0041,6452,10327.8%4.9%
Gross profit margin%22.422.120.4
Effective tax rate%10.025.818.0
Net profit margin%11.49.110.8
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 5.2% on a year-on-year (YoY) basis. The expenses were up by 2.7% YoY during the same period.
  • The company's operating profit declined by 4.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.4% in 2QFY22 as against 22.4% in 2QFY21.
  • Depreciation charges increased by 13.4% and finance costs increased by 246.2% YoY, respectively.
  • Other income increased by 576.8% YoY during the quarter.
  • Net profit for the quarter increased by 4.9% YoY. Net profit margins during the quarter declined from 11.4% in 2QFY21 to 10.8% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.7% QoQ during the same period.
  • The company's operating profit declined by 3.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.4% in 2QFY22 as against 22.1% in 1QFY21.
  • Net profit for the quarter increased by 27.8% QoQ, while net profit margins increased from 9.1% in 1QFY21 to 10.8% in 2QFY22.

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

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BIOCON Share Price Performance

Over the last one year, BIOCON share price has moved down from Rs 402.5 to Rs 332.9, registering a Loss of Rs 69.7 or around 17.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 25,197.0 (up 0.6%). Over the last one year it has moved up from 19,369.0 to 25,197.0, a gain of 5,828 points (up 30.1%).

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 332.9, the price to earnings (P/E) ratio of BIOCON stands at 43.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.3 times.

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