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MERCK LTD Announces Quarterly Results (3QFY19); Net Profit Up 31.3%

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MERCK LTD Announces Quarterly Results (3QFY19); Net Profit Up 31.3%
Tue, 5 Mar

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

MERCK LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,0412,2612,044-9.6%-32.8%
Other incomeRs m54617218.2%32.9%
TurnoverRs m3,0952,3222,116-8.9%-31.6%
ExpensesRs m2,7341,6801,89012.6%-30.9%
Gross profitRs m307582153-73.6%-50.1%
DepreciationRs m7143467.1%-34.5%
InterestRs m0000.0%0.0%
Profit before taxRs m291599179-70.2%-38.4%
TaxRs m18818844-76.6%-76.5%
Profit after taxRs m103411135-67.2%31.3%
Gross profit margin%10.125.77.5
Effective tax rate%64.631.424.6
Net profit margin%3.317.76.4
* 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 fell 32.8% on a year-on-year (YoY) basis. The expenses were down by 30.9% YoY during the same period.
  • The company's operating profit declined by 50.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 3QFY19 as against 10.1% in 3QFY18.
  • Depreciation charges declined by 34.5% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 32.9% YoY during the quarter.
  • Net profit for the quarter increased by 31.3% YoY. Net profit margins during the quarter increased from 3.3% in 3QFY18 to 6.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.6% QoQ during the same period.
  • The company's operating profit declined by 73.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.5% in 3QFY19 as against 25.7% in 2QFY18.
  • Net profit for the quarter declined by 67.2% QoQ, while net profit margins declined from 17.7% in 2QFY18 to 6.4% in 3QFY19.

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

MERCK LTD Share Price Performance

Over the last one year, MERCK LTD share price has moved up from Rs 1,519.2 to Rs 3,339.0, registering a Gain of Rs 1,819.8 or around 119.8%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,948.9 (up 0.4%). Over the last one year it has moved up from 13,948.1 to 13,948.9, a gain of 1 points (up 0.0%).

Overall, the S&P BSE SENSEX is up 6.1% over the year.

Current Valuations

At the current price of Rs 3,339.0, the price to earnings (P/E) ratio of MERCK LTD stands at 50.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.6 times.

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For the quarter ended March 2019, MERCK has posted a net profit of Rs 407 m (up 79.2% YoY). Sales on the other hand came in at Rs 2 bn (down 23.3% YoY). Read on for a complete analysis of MERCK's quarterly results.

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