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PIRAMAL ENTERPRISES Announces Quarterly Results (2QFY19); Net Profit Up 59.3%

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PIRAMAL ENTERPRISES Announces Quarterly Results (2QFY19); Net Profit Up 59.3%
Fri, 9 Nov

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

PIRAMAL ENTERPRISES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m25,35929,02531,4418.3%24.0%
Other incomeRs m754144563290.2%-25.3%
TurnoverRs m26,11329,16932,0049.7%22.6%
ExpensesRs m12,66013,75814,9118.4%17.8%
Gross profitRs m12,69910,74417,26460.7%36.0%
DepreciationRs m1,2931,2881,234-4.2%-4.6%
InterestRs m7,2479,09110,16211.8%40.2%
Profit before taxRs m4,9125106,4321161.7%30.9%
TaxRs m1,8981,8101,628-10.1%-14.2%
Profit after taxRs m3,015-1,3004,80459.3%
Gross profit margin%50.137.054.9
Effective tax rate%38.6355.125.3
Net profit margin%11.5-4.515.0
* 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 24.0% on a year-on-year (YoY) basis. The expenses were up by 17.8% YoY during the same period.
  • The company's operating profit increased by 36.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 54.9% in 2QFY19 as against 50.1% in 2QFY18.
  • Depreciation charges declined by 4.6% and finance costs increased by 40.2% YoY, respectively.
  • Other income declined by 25.3% YoY during the quarter.
  • Net profit for the quarter increased by 59.3% YoY. Net profit margins during the quarter increased from 11.5% in 2QFY18 to 15.0% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.4% QoQ during the same period.
  • The company's operating profit increased by 60.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 54.9% in 2QFY19 as against 37.0% in 1QFY18.
  • Net profit for the quarter increased by 469.4% QoQ, while net profit margins increased from -4.5% in 1QFY18 to 15.0% in 2QFY19.

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

PIRAMAL ENTERPRISES Share Price Performance

Over the last one year, PIRAMAL ENTERPRISES share price has moved up from Rs 2,637.8 to Rs 2,268.6, registering a Loss of Rs 369.2 or around 14.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,681.6 (up 1.0%). Over the last one year it has moved up from 13,987.8 to 14,681.6, a gain of 694 points (up 5.0%).

Overall, the S&P BSE SENSEX is up 5.3% over the year.

Current Valuations

At the current price of Rs 2,268.6, the price to earnings (P/E) ratio of PIRAMAL ENTERPRISES stands at 8.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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