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CIPLA Announces Quarterly Results (4QFY18); Net Profit Down 347.8%

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CIPLA Announces Quarterly Results (4QFY18); Net Profit Down 347.8%
Thu, 24 May

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

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m35,82039,13836,980-5.5%3.2%
Other incomeRs m228529400-24.4%75.6%
TurnoverRs m36,04839,66837,380-5.8%3.7%
ExpensesRs m30,75830,95231,4111.5%2.1%
Gross profitRs m5,0538,1784,793-41.4%-5.1%
DepreciationRs m6,3225,2242,848-45.5%-54.9%
InterestRs m33492352284.7%5.4%
Profit before taxRs m-1,3753,3921,993-41.3%
TaxRs m-757642462-28.1%
Profit after taxRs m-6182,7501,531-44.3%
Gross profit margin%14.120.913.0
Effective tax rate%55.118.923.2
Net profit margin%-1.76.94.1
* 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 3.2% on a year-on-year (YoY) basis. The expenses were up by 2.1% YoY during the same period.
  • The company's operating profit declined by 5.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.0% in 4QFY18 as against 14.1% in 4QFY17.
  • Depreciation charges and finance costs declined by 54.9% YoY and 5.4% YoY, respectively.
  • Other income increased by 75.6% YoY during the quarter.
  • Net profit for the quarter declined by 347.8% YoY. Net profit margins during the quarter increased from -1.7% in 4QFY17 to 4.1% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.5% QoQ during the same period.
  • The company's operating profit increased by 41.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.0% in 4QFY18 as against 20.9% in 3QFY17.
  • Net profit for the quarter declined by 44.3% QoQ, while net profit margins increased from 1.6% in 3QFY17 to 4.1% in 4QFY18.

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 520.4 to Rs 534.0, registering a Gain of Rs 13.7 or around 2.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 12,905.7 (up 1.0%). Over the last one year it has moved down from 13,941.0 to 12,905.7, a gain of -1,035.3 points (down 7.4%).

Overall, the S&P BSE SENSEX is up 0.6% over the year.

Current Valuations

At the current price of Rs 534.0, the price to earnings (P/E) ratio of CIPLA stands at 33.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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