NOVARTIS Announces Quarterly Results (3QFY20); Net Profit Down 39.9%

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NOVARTIS Announces Quarterly Results (3QFY20); Net Profit Down 39.9%
Mon, 17 Feb

NOVARTIS has announced its results for the quarter ended December 2019. Here is a detailed performance review of the same:

NOVARTIS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m1,3561,1781,175-0.3%-13.4%
Other incomeRs m11510073-27.1%-36.4%
TurnoverRs m1,4711,2781,248-2.4%-15.2%
ExpensesRs m1,2211,2061,085-10.1%-11.2%
Gross profitRs m135-2890-33.3%
DepreciationRs m1031334.1%244.2%
InterestRs m01717-1.2%5433.3%
Profit before taxRs m24024114374.2%-52.6%
TaxRs m1117637-52.1%-67.2%
Profit after taxRs m129-5277-39.9%
Gross profit margin%10.0-2.47.7
Effective tax rate%46.4317.532.1
Net profit margin%8.7-4.16.2
* 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 13.4% on a year-on-year (YoY) basis. The expenses were down by 11.2% YoY during the same period.
  • The company's operating profit declined by 33.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.7% in 3QFY20 as against 10.0% in 3QFY19.
  • Depreciation charges increased by 244.2% and finance costs increased by 5433.3% YoY, respectively.
  • Other income declined by 36.4% YoY during the quarter.
  • Net profit for the quarter declined by 39.9% YoY. Net profit margins during the quarter declined from 8.7% in 3QFY19 to 6.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 0.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.1% QoQ during the same period.
  • The company's operating profit declined by 422.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.7% in 3QFY20 as against 2.4% in 2QFY19.
  • Net profit for the quarter increased by 248.1% QoQ, while net profit margins increased from -4.1% in 2QFY19 to 6.2% in 3QFY20.

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

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NOVARTIS Share Price Performance

Over the last one year,NOVARTIS share price has moved down from Rs 652.1 to Rs 638.5, registering a Loss of Rs 13.7 or around 2.1%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,304.8 (down 0.8%). Over the last one year it has moved up from 13,433.0 to 14,304.8, a gain of 872 points (up 6.5%).

Overall, the S&P BSE SENSEX is up 14.9% over the year.

Current Valuations

At the current price of Rs 638.5, the price to earnings (P/E) ratio of NOVARTIS stands at 938.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 28.2 times.

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