INDOCO REMEDIES Announces Quarterly Results (2QFY19); Net Profit Down 139.4%

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INDOCO REMEDIES Announces Quarterly Results (2QFY19); Net Profit Down 139.4%
Thu, 15 Nov

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

INDOCO REMEDIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,8482,1752,3568.3%-17.3%
Other incomeRs m23336.5%-85.9%
TurnoverRs m2,8722,1782,3608.3%-17.8%
ExpensesRs m2,4392,0602,2388.7%-8.2%
Gross profitRs m4091161182.1%-71.1%
DepreciationRs m1721671775.6%2.6%
InterestRs m707250-30.2%-28.1%
Profit before taxRs m191-120-105-155.1%
TaxRs m-70-270.0%
Profit after taxRs m198-120-78-139.4%
Gross profit margin%14.45.35.0
Effective tax rate%-3.50.026.0
Net profit margin%6.9-5.5-3.3
* 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 17.3% on a year-on-year (YoY) basis. The expenses were down by 8.2% YoY during the same period.
  • The company's operating profit declined by 71.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.0% in 2QFY19 as against 14.4% in 2QFY18.
  • Depreciation charges increased by 2.6% and finance costs declined by 28.1% YoY, respectively.
  • Other income declined by 85.9% YoY during the quarter.
  • Net profit for the quarter declined by 139.4% YoY. Net profit margins during the quarter declined from 6.9% in 2QFY18 to -3.3% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.7% QoQ during the same period.
  • The company's operating profit declined by 2.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.0% in 2QFY19 as against 5.3% in 1QFY18.
  • Net profit for the quarter increased by 35.2% QoQ, while net profit margins increased from -5.5% in 1QFY18 to -3.3% in 2QFY19.

To see how INDOCO REMEDIES has performed over the last eight quarters, please visit here.

INDOCO REMEDIES Share Price Performance

Over the last one year, INDOCO REMEDIES share price has moved up from Rs 272.8 to Rs 168.0, registering a Loss of Rs 104.8 or around 38.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,303.3 (up 0.5%). Over the last one year it has moved up from 13,548.3 to 14,303.3, a gain of 755 points (up 5.6%).

Overall, the S&P BSE SENSEX is up 7.4% over the year.

Current Valuations

At the current price of Rs 168.0, the price to earnings (P/E) ratio of INDOCO REMEDIES stands at 66.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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