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PIRAMAL ENTERPRISES Announces Quarterly Results (4QFY19); Net Profit Down 91.4%

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PIRAMAL ENTERPRISES Announces Quarterly Results (4QFY19); Net Profit Down 91.4%
Tue, 30 Apr

PIRAMAL ENTERPRISES has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

PIRAMAL ENTERPRISES Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m29,91134,89136,7975.5%23.0%
Other incomeRs m3651,028852-17.1%133.4%
TurnoverRs m30,27635,91937,6494.8%24.4%
ExpensesRs m16,10314,61817,38018.9%7.9%
Gross profitRs m14,73220,27319,283-4.9%30.9%
DepreciationRs m1,1511,3261,3542.2%17.7%
InterestRs m8,30611,68813,15712.6%58.4%
Profit before taxRs m5,6408,2875,624-32.1%-0.3%
TaxRs m-33,8002,9302,243-23.5%
Profit after taxRs m39,4405,3563,381-36.9%-91.4%
Gross profit margin%49.358.152.4
Effective tax rate%-599.335.439.9
Net profit margin%130.314.99.0
* 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 23.0% on a year-on-year (YoY) basis. The expenses were up by 7.9% YoY during the same period.
  • The company's operating profit increased by 30.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 52.4% in 4QFY19 as against 49.3% in 4QFY18.
  • Depreciation charges increased by 17.7% and finance costs increased by 58.4% YoY, respectively.
  • Other income increased by 133.4% YoY during the quarter.
  • Net profit for the quarter declined by 91.4% YoY. Net profit margins during the quarter declined from 130.3% in 4QFY18 to 9.0% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 5.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 18.9% QoQ during the same period.
  • The company's operating profit declined by 4.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 52.4% in 4QFY19 as against 58.1% in 3QFY18.
  • Net profit for the quarter declined by 36.9% QoQ, while net profit margins declined from 14.9% in 3QFY18 to 9.0% in 4QFY19.

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 2,605.2 to Rs 2,333.1, registering a Loss of Rs 272.2 or around 10.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,280.5 (down 1.3%). Over the last one year it has moved up from 14,153.6 to 14,280.5, a gain of 127 points (up 0.9%).

Overall, the S&P BSE SENSEX is up 11.8% over the year.

Current Valuations

At the current price of Rs 2,333.1, the price to earnings (P/E) ratio of PIRAMAL ENTERPRISES stands at 32.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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