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PANACEA BIOTECH Announces Quarterly Results (3QFY19); Net Profit Down 137.1%

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PANACEA BIOTECH Announces Quarterly Results (3QFY19); Net Profit Down 137.1%
Fri, 22 Feb

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

PANACEA BIOTECH Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,5221,1861,139-4.0%-25.2%
Other incomeRs m19334124.8%118.0%
TurnoverRs m1,5411,2191,180-3.2%-23.4%
ExpensesRs m1,2191,289965-25.1%-20.8%
Gross profitRs m303-578173-42.9%
DepreciationRs m145136136-0.3%-6.4%
InterestRs m2512682825.5%12.5%
Profit before taxRs m-74-948-204
TaxRs m2327270.0%14.7%
Profit after taxRs m-97-975-230
Gross profit margin%19.9-48.715.2
Effective tax rate%-31.4-2.8-13.1
Net profit margin%-6.3-80.0-19.5
* 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 25.2% on a year-on-year (YoY) basis. The expenses were down by 20.8% YoY during the same period.
  • The company's operating profit declined by 42.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.2% in 3QFY19 as against 19.9% in 3QFY18.
  • Depreciation charges declined by 6.4% and finance costs increased by 12.5% YoY, respectively.
  • Other income increased by 118.0% YoY during the quarter.
  • Net profit for the quarter declined by 137.1% YoY. Net profit margins during the quarter declined from -6.3% in 3QFY18 to -19.5% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 25.1% QoQ during the same period.
  • The company's operating profit increased by 130.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.2% in 3QFY19 as against 48.7% in 2QFY18.
  • Net profit for the quarter increased by 76.4% QoQ, while net profit margins increased from -80.0% in 2QFY18 to -19.5% in 3QFY19.

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

PANACEA BIOTECH Share Price Performance

Over the last one year, PANACEA BIOTECH share price has moved up from Rs 323.7 to Rs 181.6, registering a Loss of Rs 142.1 or around 43.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,571.8 (up 0.5%). Over the last one year it has moved down from 13,958.5 to 13,571.8, a gain of 387 points (down 2.8%).

Overall, the S&P BSE SENSEX is up 6.0% over the year.

Current Valuations

At the current price of Rs 181.6, the price to book value (P/BV) ratio of PANACEA BIOTECH stands at 2.2 times.

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