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GLENMARK PHARMA Announces Quarterly Results (3QFY19); Net Profit Up 11.1%

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GLENMARK PHARMA Announces Quarterly Results (3QFY19); Net Profit Up 11.1%
Fri, 22 Feb

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

GLENMARK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m22,03725,81325,550-1.0%15.9%
Other incomeRs m-2321,399-1,090-177.9%
TurnoverRs m21,80527,21224,460-10.1%12.2%
ExpensesRs m18,81021,41221,204-1.0%12.7%
Gross profitRs m3,2276,0734,347-28.4%34.7%
DepreciationRs m7548258310.8%10.2%
InterestRs m7058518854.0%25.6%
Profit before taxRs m1,5375,7961,540-73.4%0.2%
TaxRs m4891,656377-77.2%-23.0%
Profit after taxRs m1,0474,1401,163-71.9%11.1%
Gross profit margin%14.623.517.0
Effective tax rate%31.828.624.5
Net profit margin%4.815.24.8
* 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 15.9% on a year-on-year (YoY) basis. The expenses were up by 12.7% YoY during the same period.
  • The company's operating profit increased by 34.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.0% in 3QFY19 as against 14.6% in 3QFY18.
  • Depreciation charges increased by 10.2% and finance costs increased by 25.6% YoY, respectively.
  • Other income increased by 370.6% YoY during the quarter.
  • Net profit for the quarter increased by 11.1% YoY. Net profit margins during the quarter declined from 4.8% in 3QFY18 to 4.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.0% QoQ during the same period.
  • The company's operating profit declined by 28.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.0% in 3QFY19 as against 23.5% in 2QFY18.
  • Net profit for the quarter declined by 71.9% QoQ, while net profit margins declined from 15.2% in 2QFY18 to 4.8% in 3QFY19.

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 524.4 to Rs 593.7, registering a Gain of Rs 69.3 or around 13.2%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,571.8 (up 0.5%). Over the last one year it has moved down from 13,958.5 to 13,571.8, a gain of 387 points (down 2.8%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 593.7, the price to earnings (P/E) ratio of GLENMARK PHARMA stands at 17.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.1 times.

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