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CIPLA Announces Quarterly Results (1QFY19); Net Profit Up 4.7%

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CIPLA Announces Quarterly Results (1QFY19); Net Profit Up 4.7%
Fri, 10 Aug

CIPLA has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m35,25136,98039,3906.5%11.7%
Other incomeRs m1,5144001,701325.2%12.4%
TurnoverRs m36,76437,38041,0919.9%11.8%
ExpensesRs m28,78631,41132,1262.3%11.6%
Gross profitRs m6,4654,7937,25351.3%12.2%
DepreciationRs m2,1342,8482,410-15.4%12.9%
InterestRs m279352351-0.3%26.0%
Profit before taxRs m5,5661,9936,193210.8%11.3%
TaxRs m1,3084621,737276.4%32.8%
Profit after taxRs m4,2581,5314,456191.0%4.7%
Gross profit margin%18.313.018.4
Effective tax rate%23.523.228.0
Net profit margin%11.64.110.8
* 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 11.7% on a year-on-year (YoY) basis. The expenses were up by 11.6% YoY during the same period.
  • The company's operating profit increased by 12.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 18.4% in 1QFY19.
  • Depreciation charges and finance costs increased by 12.9% YoY and 26.0% YoY, respectively.
  • Other income increased by 12.4% YoY during the quarter.
  • Net profit for the quarter increased by 4.7% YoY. Net profit margins during the quarter declined from 11.6% in 1QFY18 to 10.8% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 6.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.3% QoQ during the same period.
  • The company's operating profit increased by 51.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.4% in 1QFY19 as against 13.0% in 4QFY18.
  • Net profit for the quarter increased by 191.0% QoQ, while net profit margins increased from 4.1% in 4QFY18 to 10.8% in 1QFY19.

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

CIPLA Share Price Performance

Over the last one year, CIPLA share price has moved up from Rs 548.9 to Rs 622.3, registering a Gain of Rs 73.4 or around 13.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,253.9 (down 1.0%). Over the last one year it has moved up from 12,779.2 to 14,253.9, a gain of 1,475 points (up 11.5%).

Overall, the S&P BSE SENSEX is up 19.1% over the year.

Current Valuations

At the current price of Rs 622.3, the price to earnings (P/E) ratio of CIPLA stands at 38.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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For the quarter ended September 2018, CIPLA has posted a net profit of Rs 4 bn (down 15.8% YoY). Sales on the other hand came in at Rs 40 bn (down 1.7% YoY). Read on for a complete analysis of CIPLA's quarterly results.

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