NOVARTIS Announces Quarterly Results (3QFY19); Net Profit Down 31.3%

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NOVARTIS Announces Quarterly Results (3QFY19); Net Profit Down 31.3%
Wed, 13 Feb

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

NOVARTIS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,5611,0661,35627.2%-13.1%
Other incomeRs m145311115-63.1%-20.6%
TurnoverRs m1,7061,3771,4716.9%-13.8%
ExpensesRs m1,4431,2421,221-1.6%-15.4%
Gross profitRs m118-17613514.2%
DepreciationRs m571043.9%75.9%
InterestRs m3000.0%-90.6%
Profit before taxRs m25412824087.3%-5.6%
TaxRs m6734111223.3%66.7%
Profit after taxRs m1879412937.4%-31.3%
Gross profit margin%7.6-16.510.0
Effective tax rate%26.226.946.4
Net profit margin%11.06.88.7
* 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 13.1% on a year-on-year (YoY) basis. The expenses were down by 15.4% YoY during the same period.
  • The company's operating profit increased by 14.2% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 3QFY19 as against 7.6% in 3QFY18.
  • Depreciation charges increased by 75.9% and finance costs declined by 90.6% YoY, respectively.
  • Other income declined by 20.6% YoY during the quarter.
  • Net profit for the quarter declined by 31.3% YoY. Net profit margins during the quarter declined from 11.0% in 3QFY18 to 8.7% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 27.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.6% QoQ during the same period.
  • The company's operating profit increased by 176.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 3QFY19 as against 16.5% in 2QFY18.
  • Net profit for the quarter increased by 37.4% QoQ, while net profit margins increased from 6.8% in 2QFY18 to 8.7% in 3QFY19.

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

NOVARTIS Share Price Performance

Over the last one year, NOVARTIS share price has moved up from Rs 633.1 to Rs 685.0, registering a Gain of Rs 51.9 or around 8.2%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,747.0 (down 0.1%). Over the last one year it has moved down from 14,517.2 to 13,747.0, a gain of 770 points (down 5.3%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 685.0, the price to earnings (P/E) ratio of NOVARTIS stands at 391.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 31.3 times.

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For the quarter ended June 2019, NOVARTIS has posted a net profit of Rs 8 m (down 92.1% YoY). Sales on the other hand came in at Rs 1 bn (down 20.8% YoY). Read on for a complete analysis of NOVARTIS's quarterly results.

NOVARTIS Announces Quarterly Results (4QFY19); Net Profit Down 26.2% (Quarterly Result Update)

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For the quarter ended March 2019, NOVARTIS has posted a net profit of Rs 195 m (down 26.2% YoY). Sales on the other hand came in at Rs 1 bn (down 11.9% YoY). Read on for a complete analysis of NOVARTIS's quarterly results.

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