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BIOCON LTD Announces Quarterly Results (3QFY19); Net Profit Up 169.2%

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BIOCON LTD Announces Quarterly Results (3QFY19); Net Profit Up 169.2%
Mon, 28 Jan

BIOCON LTD has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

BIOCON LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m10,57913,21015,40816.6%45.6%
Other incomeRs m339544256-52.9%-24.5%
TurnoverRs m10,91813,75415,66413.9%43.5%
ExpensesRs m8,3629,81411,60118.2%38.7%
Gross profitRs m2,0005,2843,865-26.9%93.3%
DepreciationRs m9741,1221,1674.0%19.8%
InterestRs m147188186-1.1%26.5%
Profit before taxRs m1,2184,5182,768-38.7%127.3%
TaxRs m361732461-37.0%27.7%
Profit after taxRs m8573,7862,307-39.1%169.2%
Gross profit margin%18.940.025.1
Effective tax rate%29.616.216.7
Net profit margin%7.827.514.7
* 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 45.6% on a year-on-year (YoY) basis. The expenses were up by 38.7% YoY during the same period.
  • The company's operating profit increased by 93.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.1% in 3QFY19 as against 18.9% in 3QFY18.
  • Depreciation charges increased by 19.8% and finance costs increased by 26.5% YoY, respectively.
  • Other income declined by 24.5% YoY during the quarter.
  • Net profit for the quarter increased by 169.2% YoY. Net profit margins during the quarter increased from 7.8% in 3QFY18 to 14.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.2% QoQ during the same period.
  • The company's operating profit declined by 26.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.1% in 3QFY19 as against 40.0% in 2QFY18.
  • Net profit for the quarter declined by 39.1% QoQ, while net profit margins declined from 27.5% in 2QFY18 to 14.7% in 3QFY19.

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

BIOCON LTD Share Price Performance

Over the last one year, BIOCON LTD share price has moved up from Rs 607.3 to Rs 647.7, registering a Gain of Rs 40.4 or around 6.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,707.8 (down 1.7%). Over the last one year it has moved down from 15,028.8 to 13,707.8, a gain of 1,321 points (down 8.8%).

Overall, the S&P BSE SENSEX is down 0.5% over the year.

Current Valuations

At the current price of Rs 647.7, the price to earnings (P/E) ratio of BIOCON LTD stands at 43.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.5 times.

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