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CIPLA Announces Quarterly Results (4QFY19); Net Profit Up 144.0%

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CIPLA Announces Quarterly Results (4QFY19); Net Profit Up 144.0%
Fri, 24 May

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

CIPLA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m36,98040,07544,0409.9%19.1%
Other incomeRs m40078595421.4%138.3%
TurnoverRs m37,38040,86144,99310.1%20.4%
ExpensesRs m31,41132,99934,4294.3%9.6%
Gross profitRs m4,7937,0779,61135.8%100.5%
DepreciationRs m2,8482,9315,10374.1%79.2%
InterestRs m3524424481.3%27.2%
Profit before taxRs m1,9934,4895,01411.7%151.6%
TaxRs m4621,2571,2781.6%176.8%
Profit after taxRs m1,5313,2323,73615.6%144.0%
Gross profit margin%13.017.721.8
Effective tax rate%23.228.025.5
Net profit margin%4.17.98.3
* 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 19.1% on a year-on-year (YoY) basis. The expenses were up by 9.6% YoY during the same period.
  • The company's operating profit increased by 100.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.8% in 4QFY19 as against 13.0% in 4QFY18.
  • Depreciation charges increased by 79.2% and finance costs increased by 27.2% YoY, respectively.
  • Other income increased by 138.3% YoY during the quarter.
  • Net profit for the quarter increased by 144.0% YoY. Net profit margins during the quarter increased from 4.1% in 4QFY18 to 8.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.3% QoQ during the same period.
  • The company's operating profit increased by 35.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.8% in 4QFY19 as against 17.7% in 3QFY18.
  • Net profit for the quarter increased by 15.6% QoQ, while net profit margins increased from 7.9% in 3QFY18 to 8.3% in 4QFY19.

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 532.1 to Rs 566.0, registering a Gain of Rs 33.9 or around 6.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,322.7 (up 0.7%). Over the last one year it has moved up from 12,908.4 to 13,322.7, a gain of 414 points (up 3.2%).

Overall, the S&P BSE SENSEX is up 13.2% over the year.

Current Valuations

At the current price of Rs 566.0, the price to earnings (P/E) ratio of CIPLA stands at 30.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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