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

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BIOCON Announces Quarterly Results (3QFY21); Net Profit Down 19.7%
Mon, 25 Jan

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

BIOCON Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m17,48117,44818,5106.1%5.9%
Other incomeRs m35815527980.0%-22.1%
TurnoverRs m17,83917,60318,7896.7%5.3%
ExpensesRs m13,03913,53414,5157.2%11.3%
Gross profitRs m4,4423,9143,9952.1%-10.1%
DepreciationRs m1,4401,7771,8634.8%29.4%
InterestRs m1776548-26.2%-72.9%
Profit before taxRs m3,1832,2272,3636.1%-25.8%
TaxRs m848223489119.3%-42.3%
Profit after taxRs m2,3352,0041,874-6.5%-19.7%
Gross profit margin%25.422.421.6
Effective tax rate%26.610.020.7
Net profit margin%13.111.410.0
* 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 5.9% on a year-on-year (YoY) basis. The expenses were up by 11.3% YoY during the same period.
  • The company's operating profit declined by 10.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.6% in 3QFY21 as against 25.4% in 3QFY20.
  • Depreciation charges increased by 29.4% and finance costs declined by 72.9% YoY, respectively.
  • Other income declined by 22.1% YoY during the quarter.
  • Net profit for the quarter declined by 19.7% YoY. Net profit margins during the quarter declined from 13.1% in 3QFY20 to 10.0% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 7.2% QoQ during the same period.
  • The company's operating profit increased by 2.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.6% in 3QFY21 as against 22.4% in 2QFY20.
  • Net profit for the quarter declined by 6.5% QoQ, while net profit margins declined from 11.4% in 2QFY20 to 10.0% in 3QFY21.

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 up from Rs 294.5 to Rs 381.5, registering a Gain of Rs 87.1 or around 29.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,612.2 (up 1.3%). Over the last one year it has moved up from 14,108.8 to 21,612.2, a gain of 7,503 points (up 53.2%).

Overall, the S&P BSE SENSEX is up 18.3% over the year.

Current Valuations

At the current price of Rs 381.5, the price to earnings (P/E) ratio of BIOCON stands at 31.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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Related Views on News

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

Oct 29, 2020 | Updated on Oct 29, 2020

For the quarter ended September 2020, BIOCON has posted a net profit of Rs 2 bn (down 23.9% YoY). Sales on the other hand came in at Rs 17 bn (up 11.0% 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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