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IPCA LABS Announces Quarterly Results (4QFY19); Net Profit Up 113.4%

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IPCA LABS Announces Quarterly Results (4QFY19); Net Profit Up 113.4%
Mon, 3 Jun

IPCA LABS has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

IPCA LABS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m7,8289,4768,338-12.0%6.5%
Other incomeRs m11412614615.4%28.0%
TurnoverRs m7,9419,6028,484-11.6%6.8%
ExpensesRs m6,7297,1596,591-7.9%-2.0%
Gross profitRs m1,0992,3171,747-24.6%58.9%
DepreciationRs m432426416-2.4%-3.6%
InterestRs m65496326.8%-3.1%
Profit before taxRs m7171,9681,414-28.1%97.3%
TaxRs m204366319-12.8%56.7%
Profit after taxRs m5131,6021,095-31.7%113.4%
Gross profit margin%14.024.520.9
Effective tax rate%28.418.622.6
Net profit margin%6.516.712.9
* 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 6.5% on a year-on-year (YoY) basis. The expenses were down by 2.0% YoY during the same period.
  • The company's operating profit increased by 58.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.9% in 4QFY19 as against 14.0% in 4QFY18.
  • Depreciation charges declined by 3.6% and finance costs declined by 3.1% YoY, respectively.
  • Other income increased by 28.0% YoY during the quarter.
  • Net profit for the quarter increased by 113.4% YoY. Net profit margins during the quarter increased from 6.5% in 4QFY18 to 12.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.9% QoQ during the same period.
  • The company's operating profit declined by 24.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.9% in 4QFY19 as against 24.5% in 3QFY18.
  • Net profit for the quarter declined by 31.7% QoQ, while net profit margins declined from 16.7% in 3QFY18 to 12.9% in 4QFY19.

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 673.3 to Rs 935.0, registering a Gain of Rs 261.8 or around 38.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,338.4 (up 0.3%). Over the last one year it has moved up from 12,945.5 to 13,338.4, a gain of 393 points (up 3.0%).

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 935.0, the price to earnings (P/E) ratio of IPCA LABS stands at 25.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.4 times.

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Related Views on News

IPCA LABS Announces Quarterly Results (3QFY19); Net Profit Up 51.7% (Quarterly Result Update)

Feb 14, 2019 | Updated on Feb 14, 2019

For the quarter ended December 2018, IPCA LABS has posted a net profit of Rs 2 bn (up 51.7% YoY). Sales on the other hand came in at Rs 9 bn (up 10.3% YoY). Read on for a complete analysis of IPCA LABS's quarterly results.

IPCA LABS Announces Quarterly Results (2QFY19); Net Profit Up 24.1% (Quarterly Result Update)

Nov 15, 2018 | Updated on Nov 15, 2018

For the quarter ended September 2018, IPCA LABS has posted a net profit of Rs 1 bn (up 24.1% YoY). Sales on the other hand came in at Rs 10 bn (up 15.4% YoY). Read on for a complete analysis of IPCA LABS's quarterly results.

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