LUPIN LTD Announces Quarterly Results (2QFY19); Net Profit Down 31.1%

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LUPIN LTD Announces Quarterly Results (2QFY19); Net Profit Down 31.1%
Tue, 6 Nov

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

LUPIN LTD Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m25,80025,79139,51153.2%53.1%
Other incomeRs m7431,7252,30733.7%210.3%
TurnoverRs m26,54327,51641,81752.0%57.5%
ExpensesRs m20,38520,77834,01463.7%66.9%
Gross profitRs m5,4155,0145,4969.6%1.5%
DepreciationRs m9541,0452,655154.0%178.3%
InterestRs m10672738922.4%593.8%
Profit before taxRs m5,0985,6224,410-21.5%-13.5%
TaxRs m1,2091,3271,72930.3%43.0%
Profit after taxRs m3,8894,2952,681-37.6%-31.1%
Gross profit margin%21.019.413.9
Effective tax rate%23.723.639.2
Net profit margin%14.715.66.4
* 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 53.1% on a year-on-year (YoY) basis. The expenses were up by 66.9% YoY during the same period.
  • The company's operating profit increased by 1.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.9% in 2QFY19 as against 21.0% in 2QFY18.
  • Depreciation charges increased by 178.3% and finance costs increased by 593.8% YoY, respectively.
  • Other income increased by 210.3% YoY during the quarter.
  • Net profit for the quarter declined by 31.1% YoY. Net profit margins during the quarter declined from 14.7% in 2QFY18 to 6.4% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 53.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 63.7% QoQ during the same period.
  • The company's operating profit declined by 9.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.9% in 2QFY19 as against 19.4% in 1QFY18.
  • Net profit for the quarter declined by 37.6% QoQ, while net profit margins declined from 15.6% in 1QFY18 to 6.4% in 2QFY19.

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

LUPIN LTD Share Price Performance

Over the last one year, LUPIN LTD share price has moved up from Rs 1,034.7 to Rs 849.3, registering a Loss of Rs 185.4 or around 17.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,469.3 (down 0.0%). Over the last one year it has moved down from 14,548.5 to 14,469.3, a gain of 79 points (down 0.5%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 849.3, the price to earnings (P/E) ratio of LUPIN LTD stands at 29.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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