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CIPLA Announces Quarterly Results (3QFY19); Net Profit Up 17.5%

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CIPLA Announces Quarterly Results (3QFY19); Net Profit Up 17.5%
Wed, 13 Feb

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

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m39,13840,11940,075-0.1%2.4%
Other incomeRs m5291,326785-40.8%48.4%
TurnoverRs m39,66841,44540,861-1.4%3.0%
ExpensesRs m30,95233,09732,999-0.3%6.6%
Gross profitRs m8,1787,0227,0770.8%-13.5%
DepreciationRs m5,2242,8192,9314.0%-43.9%
InterestRs m92444442-0.4%383.0%
Profit before taxRs m3,3925,0854,489-11.7%32.3%
TaxRs m6421,4241,257-11.7%95.7%
Profit after taxRs m2,7503,6613,232-11.7%17.5%
Gross profit margin%20.917.517.7
Effective tax rate%18.928.028.0
Net profit margin%6.98.87.9
* 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 2.4% on a year-on-year (YoY) basis. The expenses were up by 6.6% YoY during the same period.
  • The company's operating profit declined by 13.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.7% in 3QFY19 as against 20.9% in 3QFY18.
  • Depreciation charges declined by 43.9% and finance costs increased by 383.0% YoY, respectively.
  • Other income increased by 48.4% YoY during the quarter.
  • Net profit for the quarter increased by 17.5% YoY. Net profit margins during the quarter increased from 6.9% in 3QFY18 to 7.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.3% QoQ during the same period.
  • The company's operating profit increased by 0.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.7% in 3QFY19 as against 17.5% in 2QFY18.
  • Net profit for the quarter declined by 11.7% QoQ, while net profit margins declined from 8.8% in 2QFY18 to 7.9% in 3QFY19.

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 621.2 to Rs 540.9, registering a Loss of Rs 80.3 or around 12.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,757.0 (down 0.0%). Over the last one year it has moved down from 14,517.2 to 13,757.0, a gain of 760 points (down 5.2%).

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

Current Valuations

At the current price of Rs 540.9, the price to earnings (P/E) ratio of CIPLA stands at 33.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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