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GLENMARK PHARMA Announces Quarterly Results (2QFY19); Net Profit Up 93.3%

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GLENMARK PHARMA Announces Quarterly Results (2QFY19); Net Profit Up 93.3%
Thu, 15 Nov

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

GLENMARK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m22,56621,65625,81319.2%14.4%
Other incomeRs m2971,3821,3991.2%370.6%
TurnoverRs m22,86323,03827,21218.1%19.0%
ExpensesRs m18,68218,18721,41217.7%14.6%
Gross profitRs m3,8843,4696,07375.1%56.4%
DepreciationRs m7527948253.9%9.6%
InterestRs m6987908517.7%21.9%
Profit before taxRs m2,7313,2675,79677.4%112.3%
TaxRs m5899371,65676.7%181.0%
Profit after taxRs m2,1412,3304,14077.7%93.3%
Gross profit margin%17.216.023.5
Effective tax rate%21.628.728.6
Net profit margin%9.410.115.2
* 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 14.4% on a year-on-year (YoY) basis. The expenses were up by 14.6% YoY during the same period.
  • The company's operating profit increased by 56.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.5% in 2QFY19 as against 17.2% in 2QFY18.
  • Depreciation charges increased by 9.6% and finance costs increased by 21.9% YoY, respectively.
  • Other income increased by 370.6% YoY during the quarter.
  • Net profit for the quarter increased by 93.3% YoY. Net profit margins during the quarter increased from 9.4% in 2QFY18 to 15.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 19.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 17.7% QoQ during the same period.
  • The company's operating profit increased by 75.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.5% in 2QFY19 as against 16.0% in 1QFY18.
  • Net profit for the quarter increased by 77.7% QoQ, while net profit margins increased from 10.1% in 1QFY18 to 15.2% in 2QFY19.

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 583.1 to Rs 660.7, registering a Gain of Rs 77.6 or around 13.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,195.7 (down 0.2%). Over the last one year it has moved up from 13,548.3 to 14,195.7, a gain of 647 points (up 4.8%).

Overall, the S&P BSE SENSEX is up 6.7% over the year.

Current Valuations

At the current price of Rs 660.7, the price to earnings (P/E) ratio of GLENMARK PHARMA stands at 19.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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