CIPLA Announces Quarterly Results (3QFY21); Net Profit Up 112.8%

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CIPLA Announces Quarterly Results (3QFY21); Net Profit Up 112.8%
Mon, 1 Feb

CIPLA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m43,71050,38351,6872.6%18.2%
Other incomeRs m72153586962.6%20.5%
TurnoverRs m44,43150,91852,5563.2%18.3%
ExpensesRs m36,12738,61739,3782.0%9.0%
Gross profitRs m7,58311,76612,3094.6%62.3%
DepreciationRs m2,7792,6512,484-6.3%-10.6%
InterestRs m46239347921.8%3.8%
Profit before taxRs m5,0649,25710,21510.4%101.7%
TaxRs m1,5282,6382,6902.0%76.0%
Profit after taxRs m3,5366,6197,52513.7%112.8%
Gross profit margin%17.323.423.8
Effective tax rate%30.228.526.3
Net profit margin%8.013.014.3
* 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 18.2% on a year-on-year (YoY) basis. The expenses were up by 9.0% YoY during the same period.
  • The company's operating profit increased by 62.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.8% in 3QFY21 as against 17.3% in 3QFY20.
  • Depreciation charges declined by 10.6% and finance costs increased by 3.8% YoY, respectively.
  • Other income increased by 20.5% YoY during the quarter.
  • Net profit for the quarter increased by 112.8% YoY. Net profit margins during the quarter increased from 8.0% in 3QFY20 to 14.3% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.0% QoQ during the same period.
  • The company's operating profit increased by 4.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.8% in 3QFY21 as against 23.4% in 2QFY20.
  • Net profit for the quarter increased by 13.7% QoQ, while net profit margins increased from 13.0% in 2QFY20 to 14.3% in 3QFY21.

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

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CIPLA Share Price Performance

Over the last one year, CIPLA share price has moved up from Rs 442.8 to Rs 810.0, registering a Gain of Rs 367.2 or around 82.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 20,585.1 (down 0.2%). Over the last one year it has moved up from 13,734.3 to 20,585.1, a gain of 6,851 points (up 49.9%).

Overall, the S&P BSE SENSEX is up 18.5% over the year.

Current Valuations

At the current price of Rs 810.0, the price to earnings (P/E) ratio of CIPLA stands at 29.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.1 times.

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