GSK PHARMA Announces Quarterly Results (2QFY21); Net Profit Down 84.8%

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GSK PHARMA Announces Quarterly Results (2QFY21); Net Profit Down 84.8%
Fri, 30 Oct

GSK PHARMA has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

GSK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m8,8216,4878,79435.6%-0.3%
Other incomeRs m15657889-84.6%-42.9%
TurnoverRs m8,9777,0648,88325.7%-1.0%
ExpensesRs m6,8795,3436,74426.2%-2.0%
Gross profitRs m5,9541,1441,40923.2%-76.3%
DepreciationRs m2272182200.9%-3.3%
InterestRs m9119-18.5%-4.3%
Profit before taxRs m5,8741,4931,270-15.0%-78.4%
TaxRs m84638350531.7%-40.3%
Profit after taxRs m5,0281,110765-31.1%-84.8%
Gross profit margin%67.517.616.0
Effective tax rate%14.425.739.7
Net profit margin%56.015.78.6
* 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 0.3% on a year-on-year (YoY) basis. The expenses were down by 2.0% YoY during the same period.
  • The company's operating profit declined by 76.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.0% in 2QFY21 as against 67.5% in 2QFY20.
  • Depreciation charges declined by 3.3% and finance costs declined by 4.3% YoY, respectively.
  • Other income declined by 42.9% YoY during the quarter.
  • Net profit for the quarter declined by 84.8% YoY. Net profit margins during the quarter declined from 56.0% in 2QFY20 to 8.6% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 35.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 26.2% QoQ during the same period.
  • The company's operating profit increased by 23.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.0% in 2QFY21 as against 17.6% in 1QFY20.
  • Net profit for the quarter declined by 31.1% QoQ, while net profit margins declined from 15.7% in 1QFY20 to 8.6% in 2QFY21.

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

Know More: Which way are the markets & the mutual fund industry headed?

GSK PHARMA Share Price Performance

Over the last one year, GSK PHARMA share price has moved down from Rs 1,605.7 to Rs 1,482.0, registering a Loss of Rs 123.7 or around 7.7%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 19,213.7 (down 0.2%). Over the last one year it has moved up from 13,107.3 to 19,213.7, a gain of 6,106 points (up 46.6%).

Overall, the S&P BSE SENSEX is down 0.8% over the year.

Current Valuations

At the current price of Rs 1,482.0, the price to book value (P/BV) ratio of GSK PHARMA stands at 11.7 times.

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For the quarter ended June 2020, GSK PHARMA has posted a net profit of Rs 1 bn (down 2.2% YoY). Sales on the other hand came in at Rs 6 bn (down 17.7% YoY). Read on for a complete analysis of GSK PHARMA's quarterly results.

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