LUPIN Announces Quarterly Results (2QFY20); Net Profit Down 146.4%

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LUPIN Announces Quarterly Results (2QFY20); Net Profit Down 146.4%
Thu, 7 Nov

LUPIN has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

LUPIN Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m39,51144,18443,597-1.3%10.3%
Other incomeRs m2,3077221,33384.6%-42.2%
TurnoverRs m41,81744,90644,9290.1%7.4%
ExpensesRs m34,01435,58236,2862.0%6.7%
Gross profitRs m5,4968,6051,846-78.6%-66.4%
DepreciationRs m2,6553,1713,2151.4%21.1%
InterestRs m7388568651.0%17.1%
Profit before taxRs m4,4105,300-901-117.0%-120.4%
TaxRs m1,7292,280343-85.0%-80.2%
Profit after taxRs m2,6813,021-1,244-141.2%-146.4%
Gross profit margin%13.919.54.2
Effective tax rate%39.243.0-38.1
Net profit margin%6.46.7-2.8
* 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 10.3% on a year-on-year (YoY) basis. The expenses were up by 6.7% YoY during the same period.
  • The company's operating profit declined by 66.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.2% in 2QFY20 as against 13.9% in 2QFY19.
  • Depreciation charges increased by 21.1% and finance costs increased by 17.1% YoY, respectively.
  • Other income declined by 42.2% YoY during the quarter.
  • Net profit for the quarter declined by 146.4% YoY. Net profit margins during the quarter declined from 6.4% in 2QFY19 to -2.8% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.0% QoQ during the same period.
  • The company's operating profit declined by 78.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.2% in 2QFY20 as against 19.5% in 1QFY19.
  • Net profit for the quarter declined by 141.2% QoQ, while net profit margins declined from 6.7% in 1QFY19 to -2.8% in 2QFY20.

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

Revealed: Top 3 Stocks for 2020 and Beyond

LUPIN Share Price Performance

Over the last one year,LUPIN share price has moved down from Rs 852.5 to Rs 742.4, registering a Loss of Rs 110.2 or around 12.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,224.5 (down 0.1%). Over the last one year it has moved down from 14,540.6 to 13,224.5, a gain of 1,316 points (down 9.1%).

Overall, the S&P BSE SENSEX is up 15.8% over the year.

Current Valuations

At the current price of Rs 742.4, the price to earnings (P/E) ratio of LUPIN stands at 107.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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For the quarter ended March 2020, LUPIN has posted a net profit of Rs 4 bn (up 35.5% YoY). Sales on the other hand came in at Rs 38 bn (down 12.7% YoY). Read on for a complete analysis of LUPIN's quarterly results.

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