ABBOTT INDIA Announces Quarterly Results (4QFY19); Net Profit Up 13.1%

Tue, 28 May

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

ABBOTT INDIA Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	7,884	9,477	9,063	-4.4%	15.0%
Other income	Rs m	586	376	294	-22.0%	-49.9%
Turnover	Rs m	8,470	9,853	9,357	-5.0%	10.5%
Expenses	Rs m	6,817	8,012	7,534	-6.0%	10.5%
Gross profit	Rs m	1,066	1,465	1,529	4.4%	43.4%
Depreciation	Rs m	40	40	49	24.0%	24.0%
Interest	Rs m	22	4	8	74.4%	-66.1%
Profit before tax	Rs m	1,591	1,797	1,766	-1.7%	11.0%
Tax	Rs m	590	627	634	1.2%	7.5%
Profit after tax	Rs m	1,001	1,171	1,132	-3.3%	13.1%
Gross profit margin	%	13.5	15.5	16.9
Effective tax rate	%	37.1	34.9	35.9
Net profit margin	%	11.8	11.9	12.1

Year-on-Year Performance:

• The company's operating income during the quarter grew 15.0% on a year-on-year (YoY) basis. The expenses were up by 10.5% YoY during the same period.
• The company's operating profit increased by 43.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 4QFY19 as against 13.5% in 4QFY18.
• Depreciation charges increased by 24.0% and finance costs declined by 66.1% YoY, respectively.
• Other income declined by 49.9% YoY during the quarter.
• Net profit for the quarter increased by 13.1% YoY. Net profit margins during the quarter increased from 11.8% in 4QFY18 to 12.1% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 4.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.0% QoQ during the same period.
• The company's operating profit increased by 4.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 4QFY19 as against 15.5% in 3QFY18.
• Net profit for the quarter declined by 3.3% QoQ, while net profit margins increased from 11.9% in 3QFY18 to 12.1% in 4QFY19.

To see how ABBOTT INDIA has performed over the last eight quarters, please visit here.

ABBOTT INDIA Share Price Performance

Over the last one year, ABBOTT INDIA share price has moved up from Rs 6,730.7 to Rs 7,950.0, registering a Gain of Rs 1,219.4 or around 18.1%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,400.8 (up 0.3%). Over the last one year it has moved up from 13,319.5 to 13,400.8, a gain of 81 points (up 0.6%).

Overall, the S&P BSE SENSEX is up 12.7% over the year.

Current Valuations

At the current price of Rs 7,950.0, the price to earnings (P/E) ratio of ABBOTT INDIA stands at 37.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 10.0 times.