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CIPLA Announces Quarterly Results (2QFY19); Net Profit Down 15.8%

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CIPLA Announces Quarterly Results (2QFY19); Net Profit Down 15.8%
Mon, 12 Nov

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

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m40,82439,39040,1191.9%-1.7%
Other incomeRs m1,1331,7011,326-22.1%17.0%
TurnoverRs m41,95741,09141,4450.9%-1.2%
ExpensesRs m32,78032,12633,0973.0%1.0%
Gross profitRs m8,0337,2537,022-3.2%-12.6%
DepreciationRs m3,0222,4102,81917.0%-6.7%
InterestRs m42035144426.4%5.6%
Profit before taxRs m5,7246,1935,085-17.9%-11.2%
TaxRs m1,3741,7371,424-18.0%3.6%
Profit after taxRs m4,3504,4563,661-17.8%-15.8%
Gross profit margin%19.718.417.5
Effective tax rate%24.028.028.0
Net profit margin%10.410.88.8
* 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 fell 1.7% on a year-on-year (YoY) basis. The expenses were up by 1.0% YoY during the same period.
  • The company's operating profit declined by 12.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.5% in 2QFY19 as against 19.7% in 2QFY18.
  • Depreciation charges declined by 6.7% and finance costs increased by 5.6% YoY, respectively.
  • Other income increased by 17.0% YoY during the quarter.
  • Net profit for the quarter declined by 15.8% YoY. Net profit margins during the quarter declined from 10.4% in 2QFY18 to 8.8% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.0% QoQ during the same period.
  • The company's operating profit declined by 3.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.5% in 2QFY19 as against 18.4% in 1QFY18.
  • Net profit for the quarter declined by 17.8% QoQ, while net profit margins declined from 10.8% in 1QFY18 to 8.8% in 2QFY19.

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 609.1 to Rs 533.9, registering a Loss of Rs 75.2 or around 12.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,675.5 (down 0.1%). Over the last one year it has moved up from 13,858.9 to 14,675.5, a gain of 817 points (up 5.9%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 533.9, the price to earnings (P/E) ratio of CIPLA stands at 34.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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