CIPLA Announces Quarterly Results (1QFY20); Net Profit Up 5.6%

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CIPLA Announces Quarterly Results (1QFY20); Net Profit Up 5.6%
Tue, 13 Aug

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

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m39,39044,04039,890-9.4%1.3%
Other incomeRs m1,701954784-17.8%-53.9%
TurnoverRs m41,09144,99340,674-9.6%-1.0%
ExpensesRs m32,12634,42930,844-10.4%-4.0%
Gross profitRs m7,2539,6119,046-5.9%24.7%
DepreciationRs m2,4105,1032,680-47.5%11.2%
InterestRs m35144852116.4%48.5%
Profit before taxRs m6,1935,0146,62932.2%7.0%
TaxRs m1,7371,2781,92250.5%10.7%
Profit after taxRs m4,4563,7364,70726.0%5.6%
Gross profit margin%18.421.822.7
Effective tax rate%28.025.529.0
Net profit margin%10.88.311.6
* 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 1.3% on a year-on-year (YoY) basis. The expenses were down by 4.0% YoY during the same period.
  • The company's operating profit increased by 24.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.7% in 1QFY20 as against 18.4% in 1QFY19.
  • Depreciation charges increased by 11.2% and finance costs increased by 48.5% YoY, respectively.
  • Other income declined by 53.9% YoY during the quarter.
  • Net profit for the quarter increased by 5.6% YoY. Net profit margins during the quarter increased from 10.8% in 1QFY19 to 11.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.4% QoQ during the same period.
  • The company's operating profit increased by 5.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 22.7% in 1QFY20 as against 21.8% in 4QFY19.
  • Net profit for the quarter increased by 26.0% QoQ, while net profit margins increased from 8.3% in 4QFY19 to 11.6% in 1QFY20.

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 down from Rs 626.7 to Rs 478.3, registering a Loss of Rs 148.4 or around 23.7%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 12,745.5 (up 0.4%). Over the last one year it has moved down from 14,332.1 to 12,745.5, a gain of 1,587 points (down 11.1%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 478.3, the price to earnings (P/E) ratio of CIPLA stands at 25.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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