PIRAMAL ENTERPRISES Announces Quarterly Results (1QFY21); Net Profit Up 22.1%

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PIRAMAL ENTERPRISES Announces Quarterly Results (1QFY21); Net Profit Up 22.1%
Tue, 25 Aug

PIRAMAL ENTERPRISES has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

PIRAMAL ENTERPRISES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m35,06333,41029,373-12.1%-16.2%
Other incomeRs m6692,396655-72.7%-2.2%
TurnoverRs m35,73235,80630,028-16.1%-16.0%
ExpensesRs m14,00434,38611,419-66.8%-18.5%
Gross profitRs m20,945-97617,955-14.3%
DepreciationRs m1,5821,4291,346-5.8%-14.9%
InterestRs m14,08512,95311,046-14.7%-21.6%
Profit before taxRs m5,947-12,9626,2174.5%
TaxRs m2,17612,5951,611-87.2%-26.0%
Profit after taxRs m3,771-25,5574,60622.1%
Gross profit margin%59.7-2.961.1
Effective tax rate%36.6-97.225.9
Net profit margin%10.6-71.415.3
* 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 fell 16.2% on a year-on-year (YoY) basis. The expenses were down by 18.5% YoY during the same period.
  • The company's operating profit declined by 14.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 61.1% in 1QFY21 as against 59.7% in 1QFY20.
  • Depreciation charges declined by 14.9% and finance costs declined by 21.6% YoY, respectively.
  • Other income declined by 2.2% YoY during the quarter.
  • Net profit for the quarter increased by 22.1% YoY. Net profit margins during the quarter increased from 10.6% in 1QFY20 to 15.3% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 12.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 66.8% QoQ during the same period.
  • The company's operating profit declined by 1939.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 61.1% in 1QFY21 as against 2.9% in 4QFY20.
  • Net profit for the quarter increased by 118.0% QoQ, while net profit margins increased from -71.4% in 4QFY20 to 15.3% in 1QFY21.

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

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PIRAMAL ENTERPRISES Share Price Performance

Over the last one year,PIRAMAL ENTERPRISES share price has moved down from Rs 1,781.4 to Rs 1,420.7, registering a Loss of Rs 360.8 or around 20.3%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 19,299.4 (up 0.2%). Over the last one year it has moved up from 12,460.8 to 19,299.4, a gain of 6,839 points (up 54.9%).

Overall, the S&P BSE SENSEX is up 3.8% over the year.

Current Valuations

At the current price of Rs 1,420.7, the price to book value (P/BV) ratio of PIRAMAL ENTERPRISES stands at 1.2 times.

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