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GLENMARK PHARMA Announces Quarterly Results (1QFY19); Net Profit Down 30.1%

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GLENMARK PHARMA Announces Quarterly Results (1QFY19); Net Profit Down 30.1%
Mon, 13 Aug

GLENMARK PHARMA has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

GLENMARK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m23,63022,79821,656-5.0%-8.4%
Other incomeRs m1536961,38298.7%804.1%
TurnoverRs m23,78323,49423,038-1.9%-3.1%
ExpensesRs m17,85619,53018,187-6.9%1.9%
Gross profitRs m5,7743,2683,4696.1%-39.9%
DepreciationRs m7777357948.0%2.1%
InterestRs m7097447906.2%11.5%
Profit before taxRs m4,4412,4853,26731.5%-26.4%
TaxRs m1,108968937-3.2%-15.4%
Profit after taxRs m3,3341,5162,33053.7%-30.1%
Gross profit margin%24.414.316.0
Effective tax rate%24.939.028.7
Net profit margin%14.06.510.1
* 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 fell 8.4% on a year-on-year (YoY) basis. The expenses were up by 1.9% YoY during the same period.
  • The company's operating profit declined by 39.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.0% in 1QFY19 as against 24.4% in 1QFY18.
  • Depreciation charges and finance costs increased by 2.1% YoY and 11.5% YoY, respectively.
  • Other income increased by 804.1% YoY during the quarter.
  • Net profit for the quarter declined by 30.1% YoY. Net profit margins during the quarter declined from 14.0% in 1QFY18 to 10.1% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.9% QoQ during the same period.
  • The company's operating profit increased by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.0% in 1QFY19 as against 14.3% in 4QFY18.
  • Net profit for the quarter increased by 53.7% QoQ, while net profit margins increased from 6.5% in 4QFY18 to 10.1% in 1QFY19.

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

GLENMARK PHARMA Share Price Performance

Over the last one year, GLENMARK PHARMA share price has moved up from Rs 616.9 to Rs 584.7, registering a Loss of Rs 32.3 or around 5.2%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,339.6 (up 0.6%). Over the last one year it has moved up from 12,807.8 to 14,339.6, a gain of 1,532 points (up 12.0%).

Overall, the S&P BSE SENSEX is up 19.5% over the year.

Current Valuations

At the current price of Rs 584.7, the price to earnings (P/E) ratio of GLENMARK PHARMA stands at 22.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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