GLENMARK PHARMA Announces Quarterly Results (3QFY20); Net Profit Up 64.0%

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GLENMARK PHARMA Announces Quarterly Results (3QFY20); Net Profit Up 64.0%
Wed, 19 Feb

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

GLENMARK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m25,55028,15027,356-2.8%7.1%
Other incomeRs m-1,090808330-59.2%
TurnoverRs m24,46028,95927,685-4.4%13.2%
ExpensesRs m21,20423,64622,955-2.9%8.3%
Gross profitRs m4,3474,5044,401-2.3%1.2%
DepreciationRs m8319421,06012.6%27.6%
InterestRs m8858989617.0%8.5%
Profit before taxRs m1,5403,4732,710-22.0%75.9%
TaxRs m377918801-12.7%112.6%
Profit after taxRs m1,1632,5551,908-25.3%64.0%
Gross profit margin%17.016.016.1
Effective tax rate%24.526.429.6
Net profit margin%4.88.86.9
* 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 7.1% on a year-on-year (YoY) basis. The expenses were up by 8.3% YoY during the same period.
  • The company's operating profit increased by 1.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.1% in 3QFY20 as against 17.0% in 3QFY19.
  • Depreciation charges increased by 27.6% and finance costs increased by 8.5% YoY, respectively.
  • Other income declined by 130.2% YoY during the quarter.
  • Net profit for the quarter increased by 64.0% YoY. Net profit margins during the quarter increased from 4.8% in 3QFY19 to 6.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.9% QoQ during the same period.
  • The company's operating profit declined by 2.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 3QFY20 as against 16.0% in 2QFY19.
  • Net profit for the quarter declined by 25.3% QoQ, while net profit margins declined from 8.8% in 2QFY19 to 6.9% in 3QFY20.

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

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GLENMARK PHARMA Share Price Performance

Over the last one year,GLENMARK PHARMA share price has moved down from Rs 579.0 to Rs 316.1, registering a Loss of Rs 262.9 or around 45.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,462.1 (up 1.8%). Over the last one year it has moved up from 13,314.3 to 14,462.1, a gain of 1,148 points (up 8.6%).

Overall, the S&P BSE SENSEX is up 16.2% over the year.

Current Valuations

At the current price of Rs 316.1, the price to earnings (P/E) ratio of GLENMARK PHARMA stands at 12.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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