GSK PHARMA Announces Quarterly Results (3QFY21); Net Profit Up 124.4%

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GSK PHARMA Announces Quarterly Results (3QFY21); Net Profit Up 124.4%
Wed, 10 Feb

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

GSK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m7,7878,7948,584-2.4%10.2%
Other incomeRs m1638913955.5%-14.6%
TurnoverRs m7,9498,8838,723-1.8%9.7%
ExpensesRs m6,5406,7446,516-3.4%-0.4%
Gross profitRs m-6,1231,4092,17354.2%
DepreciationRs m183220177-19.4%-3.4%
InterestRs m30996.8%-68.5%
Profit before taxRs m-6,1731,2702,12567.4%
TaxRs m2685055529.4%105.7%
Profit after taxRs m-6,4417651,574105.7%
Gross profit margin%-78.616.025.3
Effective tax rate%-4.339.726.0
Net profit margin%-81.08.618.0
* 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 10.2% on a year-on-year (YoY) basis. The expenses were down by 0.4% YoY during the same period.
  • The company's operating profit declined by 135.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY21 as against 78.6% in 3QFY20.
  • Depreciation charges declined by 3.4% and finance costs declined by 68.5% YoY, respectively.
  • Other income declined by 14.6% YoY during the quarter.
  • Net profit for the quarter increased by 124.4% YoY. Net profit margins during the quarter increased from -81.0% in 3QFY20 to 18.0% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.4% QoQ during the same period.
  • The company's operating profit increased by 54.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY21 as against 16.0% in 2QFY20.
  • Net profit for the quarter increased by 105.7% QoQ, while net profit margins increased from 8.6% in 2QFY20 to 18.0% in 3QFY21.

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

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GSK PHARMA Share Price Performance

Over the last one year, GSK PHARMA share price has moved up from Rs 1,301.3 to Rs 1,457.0, registering a Gain of Rs 155.8 or around 12.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,752.6 (down 0.1%). Over the last one year it has moved up from 14,241.2 to 21,752.6, a gain of 7,511 points (up 52.7%).

Overall, the S&P BSE SENSEX is up 25.0% over the year.

Current Valuations

At the current price of Rs 1,457.0, the price to earnings (P/E) ratio of GSK PHARMA stands at 51.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.5 times.

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For the quarter ended September 2020, GSK PHARMA has posted a net profit of Rs 765 m (down 84.8% YoY). Sales on the other hand came in at Rs 9 bn (down 0.3% YoY). Read on for a complete analysis of GSK PHARMA's quarterly results.

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