IPCA LABS Announces Quarterly Results (3QFY21); Net Profit Up 32.2%

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IPCA LABS Announces Quarterly Results (3QFY21); Net Profit Up 32.2%
Fri, 5 Feb

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

IPCA LABS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m11,39112,97813,1521.3%15.5%
Other incomeRs m1761501574.3%-11.2%
TurnoverRs m11,56713,12813,3091.4%15.1%
ExpensesRs m8,7369,3769,6643.1%10.6%
Gross profitRs m2,6543,6023,488-3.1%31.4%
DepreciationRs m4624634773.0%3.2%
InterestRs m381816-13.8%-58.9%
Profit before taxRs m2,3313,2713,153-3.6%35.2%
TaxRs m3655145537.5%51.6%
Profit after taxRs m1,9662,7572,600-5.7%32.2%
Gross profit margin%23.327.826.5
Effective tax rate%15.615.717.5
Net profit margin%17.021.019.5
* 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 15.5% on a year-on-year (YoY) basis. The expenses were up by 10.6% YoY during the same period.
  • The company's operating profit increased by 31.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.5% in 3QFY21 as against 23.3% in 3QFY20.
  • Depreciation charges increased by 3.2% and finance costs declined by 58.9% YoY, respectively.
  • Other income declined by 11.2% YoY during the quarter.
  • Net profit for the quarter increased by 32.2% YoY. Net profit margins during the quarter increased from 17.0% in 3QFY20 to 19.5% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit declined by 3.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 26.5% in 3QFY21 as against 27.8% in 2QFY20.
  • Net profit for the quarter declined by 5.7% QoQ, while net profit margins declined from 21.0% in 2QFY20 to 19.5% in 3QFY21.

To see how IPCA LABS has performed over the last eight quarters,please visit here.

IPCA LABS Share Price Performance

Over the last one year, IPCA LABS share price has moved up from Rs 1,220.7 to Rs 1,947.1, registering a Gain of Rs 726.4 or around 59.5%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,735.0 (up 0.5%). Over the last one year it has moved up from 13,946.5 to 21,735.0, a gain of 7,788 points (up 55.8%).

Overall, the S&P BSE SENSEX is up 27.4% over the year.

Current Valuations

At the current price of Rs 1,947.1, the price to earnings (P/E) ratio of IPCA LABS stands at 22.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.9 times.

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Related Views on News

IPCA LABS Announces Quarterly Results (1QFY21); Net Profit Up 243.5% (Quarterly Result Update)

Sep 29, 2020 | Updated on Sep 29, 2020

For the quarter ended June 2020, IPCA LABS has posted a net profit of Rs 5 bn (up 243.5% YoY). Sales on the other hand came in at Rs 15 bn (up 46.9% YoY). Read on for a complete analysis of IPCA LABS's quarterly results.

IPCA LABS Announces Quarterly Results (3QFY20); Net Profit Up 22.8% (Quarterly Result Update)

Feb 17, 2020 | Updated on Feb 17, 2020

For the quarter ended December 2019, IPCA LABS has posted a net profit of Rs 2 bn (up 22.8% YoY). Sales on the other hand came in at Rs 11 bn (up 20.2% YoY). Read on for a complete analysis of IPCA LABS's quarterly results.

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