GLENMARK PHARMA Announces Quarterly Results (1QFY20); Net Profit Down 53.1%

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GLENMARK PHARMA Announces Quarterly Results (1QFY20); Net Profit Down 53.1%
Wed, 28 Aug

GLENMARK PHARMA has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

GLENMARK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m21,65625,63523,229-9.4%7.3%
Other incomeRs m1,38239117-95.7%-98.8%
TurnoverRs m23,03826,02523,245-10.7%0.9%
ExpensesRs m18,18721,99319,810-9.9%8.9%
Gross profitRs m3,4693,6413,419-6.1%-1.4%
DepreciationRs m79481090712.1%14.3%
InterestRs m79081993013.6%17.7%
Profit before taxRs m3,2672,4031,598-33.5%-51.1%
TaxRs m937786506-35.7%-46.1%
Profit after taxRs m2,3301,6171,093-32.4%-53.1%
Gross profit margin%16.014.214.7
Effective tax rate%28.732.731.6
Net profit margin%10.16.24.7
* 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 7.3% on a year-on-year (YoY) basis. The expenses were up by 8.9% YoY during the same period.
  • The company's operating profit declined by 1.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.7% in 1QFY20 as against 16.0% in 1QFY19.
  • Depreciation charges increased by 14.3% and finance costs increased by 17.7% YoY, respectively.
  • Other income declined by 98.8% YoY during the quarter.
  • Net profit for the quarter declined by 53.1% YoY. Net profit margins during the quarter declined from 10.1% in 1QFY19 to 4.7% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 9.9% QoQ during the same period.
  • The company's operating profit declined by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.7% in 1QFY20 as against 14.2% in 4QFY19.
  • Net profit for the quarter declined by 32.4% QoQ, while net profit margins declined from 6.2% in 4QFY19 to 4.7% in 1QFY20.

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 down from Rs 643.4 to Rs 377.3, registering a Loss of Rs 266.2 or around 41.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 12,548.7 (down 0.1%). Over the last one year it has moved down from 15,533.1 to 12,548.7, a gain of 2,984 points (down 19.2%).

Overall, the S&P BSE SENSEX is down 3.2% over the year.

Current Valuations

At the current price of Rs 377.3, the price to earnings (P/E) ratio of GLENMARK PHARMA stands at 12.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.0 times.

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