PFIZER Announces Quarterly Results (2QFY19); Net Profit Down 13.8%

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PFIZER Announces Quarterly Results (2QFY19); Net Profit Down 13.8%
Thu, 15 Nov

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

PFIZER Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m5,7115,1235,1971.5%-9.0%
Other incomeRs m23730537121.4%56.3%
TurnoverRs m5,9485,4285,5682.6%-6.4%
ExpensesRs m4,0393,8223,9002.0%-3.4%
Gross profitRs m1,6721,3011,298-0.3%-22.4%
DepreciationRs m160183177-3.0%10.7%
InterestRs m22229.4%37.5%
Profit before taxRs m1,7481,4221,4894.7%-14.8%
TaxRs m6365045315.4%-16.6%
Profit after taxRs m1,1129189584.3%-13.8%
Gross profit margin%29.325.425.0
Effective tax rate%36.435.435.7
Net profit margin%18.716.917.2
* 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 9.0% on a year-on-year (YoY) basis. The expenses were down by 3.4% YoY during the same period.
  • The company's operating profit declined by 22.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.0% in 2QFY19 as against 29.3% in 2QFY18.
  • Depreciation charges increased by 10.7% and finance costs increased by 37.5% YoY, respectively.
  • Other income increased by 56.3% YoY during the quarter.
  • Net profit for the quarter declined by 13.8% YoY. Net profit margins during the quarter declined from 18.7% in 2QFY18 to 17.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.0% QoQ during the same period.
  • The company's operating profit declined by 0.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.0% in 2QFY19 as against 25.4% in 1QFY18.
  • Net profit for the quarter increased by 4.3% QoQ, while net profit margins increased from 16.9% in 1QFY18 to 17.2% in 2QFY19.

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

PFIZER Share Price Performance

Over the last one year, PFIZER share price has moved up from Rs 1,908.5 to Rs 2,783.3, registering a Gain of Rs 874.8 or around 45.8%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,206.5 (down 0.2%). Over the last one year it has moved up from 13,548.3 to 14,206.5, a gain of 658 points (up 4.9%).

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 2,783.3, the price to earnings (P/E) ratio of PFIZER stands at 33.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.7 times.

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