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BIOCON Announces Quarterly Results (4QFY19); Net Profit Down 53.8%

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BIOCON Announces Quarterly Results (4QFY19); Net Profit Down 53.8%
Fri, 26 Apr

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

BIOCON Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m11,69515,4087,639-50.4%-34.7%
Other incomeRs m675256139-45.7%-79.4%
TurnoverRs m12,37015,6647,778-50.3%-37.1%
ExpensesRs m9,36511,6016,654-42.6%-28.9%
Gross profitRs m2,3813,865985-74.5%-58.6%
DepreciationRs m9531,167375-67.9%-60.7%
InterestRs m1691866-96.8%-96.4%
Profit before taxRs m1,9342,768743-73.2%-61.6%
TaxRs m40746138-91.8%-90.7%
Profit after taxRs m1,5272,307705-69.4%-53.8%
Gross profit margin%20.425.112.9
Effective tax rate%21.016.75.1
Net profit margin%12.314.79.1
* 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 34.7% on a year-on-year (YoY) basis. The expenses were down by 28.9% YoY during the same period.
  • The company's operating profit declined by 58.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.9% in 4QFY19 as against 20.4% in 4QFY18.
  • Depreciation charges declined by 60.7% and finance costs declined by 96.4% YoY, respectively.
  • Other income declined by 79.4% YoY during the quarter.
  • Net profit for the quarter declined by 53.8% YoY. Net profit margins during the quarter declined from 12.3% in 4QFY18 to 9.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 50.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 42.6% QoQ during the same period.
  • The company's operating profit declined by 74.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.9% in 4QFY19 as against 25.1% in 3QFY18.
  • Net profit for the quarter declined by 69.4% QoQ, while net profit margins declined from 14.7% in 3QFY18 to 9.1% in 4QFY19.

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 up from Rs 663.3 to Rs 619.9, registering a Loss of Rs 43.4 or around 6.5%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,464.7 (up 0.2%). Over the last one year it has moved up from 13,930.8 to 14,464.7, a gain of 534 points (up 3.8%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 619.9, the price to earnings (P/E) ratio of BIOCON stands at 45.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.2 times.

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