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PIRAMAL ENTERPRISES Announces Quarterly Results (3QFY19); Net Profit Up 21.8%

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PIRAMAL ENTERPRISES Announces Quarterly Results (3QFY19); Net Profit Up 21.8%
Wed, 30 Jan

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

PIRAMAL ENTERPRISES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m28,58431,44134,89111.0%22.1%
Other incomeRs m6385631,02882.6%61.2%
TurnoverRs m29,22232,00435,91912.2%22.9%
ExpensesRs m14,11014,91114,618-2.0%3.6%
Gross profitRs m14,47417,26420,27317.4%40.1%
DepreciationRs m1,1001,2341,3267.5%20.5%
InterestRs m7,49710,16211,68815.0%55.9%
Profit before taxRs m6,5156,4328,28728.8%27.2%
TaxRs m2,1181,6282,93080.0%38.4%
Profit after taxRs m4,3974,8045,35611.5%21.8%
Gross profit margin%50.654.958.1
Effective tax rate%32.525.335.4
Net profit margin%15.015.014.9
* 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 22.1% on a year-on-year (YoY) basis. The expenses were up by 3.6% YoY during the same period.
  • The company's operating profit increased by 40.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 58.1% in 3QFY19 as against 50.6% in 3QFY18.
  • Depreciation charges increased by 20.5% and finance costs increased by 55.9% YoY, respectively.
  • Other income increased by 61.2% YoY during the quarter.
  • Net profit for the quarter increased by 21.8% YoY. Net profit margins during the quarter declined from 15.0% in 3QFY18 to 14.9% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 11.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.0% QoQ during the same period.
  • The company's operating profit increased by 17.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 58.1% in 3QFY19 as against 54.9% in 2QFY18.
  • Net profit for the quarter increased by 11.5% QoQ, while net profit margins declined from 15.0% in 2QFY18 to 14.9% in 3QFY19.

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 2,765.9 to Rs 2,025.0, registering a Loss of Rs 740.9 or around 26.8%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,737.1 (down 0.2%). Over the last one year it has moved down from 14,799.8 to 13,737.1, a gain of 1,063 points (down 7.2%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 2,025.0, the price to earnings (P/E) ratio of PIRAMAL ENTERPRISES stands at 7.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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