CIPLA Announces Quarterly Results (3QFY20); Net Profit Up 9.4%

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CIPLA Announces Quarterly Results (3QFY20); Net Profit Up 9.4%
Thu, 6 Feb

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

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m40,07543,95843,710-0.6%9.1%
Other incomeRs m7851,005721-28.2%-8.1%
TurnoverRs m40,86144,96344,431-1.2%8.7%
ExpensesRs m32,99934,86336,1273.6%9.5%
Gross profitRs m7,0779,0957,583-16.6%7.2%
DepreciationRs m2,9312,8302,779-1.8%-5.2%
InterestRs m4424614620.2%4.5%
Profit before taxRs m4,4896,8105,064-25.6%12.8%
TaxRs m1,2572,0061,528-23.8%21.6%
Profit after taxRs m3,2324,8043,536-26.4%9.4%
Gross profit margin%17.720.717.3
Effective tax rate%28.029.430.2
Net profit margin%7.910.78.0
* 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 9.1% on a year-on-year (YoY) basis. The expenses were up by 9.5% YoY during the same period.
  • The company's operating profit increased by 7.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.3% in 3QFY20 as against 17.7% in 3QFY19.
  • Depreciation charges declined by 5.2% and finance costs increased by 4.5% YoY, respectively.
  • Other income declined by 8.1% YoY during the quarter.
  • Net profit for the quarter increased by 9.4% YoY. Net profit margins during the quarter increased from 7.9% in 3QFY19 to 8.0% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.6% QoQ during the same period.
  • The company's operating profit declined by 16.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.3% in 3QFY20 as against 20.7% in 2QFY19.
  • Net profit for the quarter declined by 26.4% QoQ, while net profit margins declined from 10.7% in 2QFY19 to 8.0% in 3QFY20.

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

Discover: India's #1 Defence Stock

CIPLA Share Price Performance

Over the last one year,CIPLA share price has moved down from Rs 528.0 to Rs 442.1, registering a Loss of Rs 85.9 or around 16.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,065.4 (up 0.9%). Over the last one year it has moved up from 13,863.1 to 14,065.4, a gain of 202 points (up 1.5%).

Overall, the S&P BSE SENSEX is up 12.9% over the year.

Current Valuations

At the current price of Rs 442.1, the price to earnings (P/E) ratio of CIPLA stands at 21.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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