STRIDES PHARMA SCIENCE Announces Quarterly Results (3QFY19); Net Profit Down 27.5%

Wed, 30 Jan

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

STRIDES PHARMA SCIENCE Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-17*	3 Sep-18*	3 Dec-18*	QoQ Change	YoY Change
Net Sales	Rs m	7,490	7,326	7,945	8.4%	6.1%
Other income	Rs m	157	77	8	-89.3%	-94.7%
Turnover	Rs m	7,647	7,404	7,953	7.4%	4.0%
Expenses	Rs m	6,262	6,330	6,674	5.4%	6.6%
Gross profit	Rs m	1,166	922	1,278	38.6%	9.7%
Depreciation	Rs m	391	445	407	-8.6%	4.1%
Interest	Rs m	498	485	501	3.3%	0.6%
Profit before tax	Rs m	434	70	379	443.8%	-12.6%
Tax	Rs m	-2	16	63	293.2%
Profit after tax	Rs m	435	54	316	489.0%	-27.5%
Gross profit margin	%	15.6	12.6	16.1
Effective tax rate	%	-0.4	23.1	16.7
Net profit margin	%	5.7	0.7	4.0

Year-on-Year Performance:

• The company's operating income during the quarter grew 6.1% on a year-on-year (YoY) basis. The expenses were up by 6.6% YoY during the same period.
• The company's operating profit increased by 9.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 16.1% in 3QFY19.
• Depreciation charges increased by 4.1% and finance costs increased by 0.6% YoY, respectively.
• Other income declined by 94.7% YoY during the quarter.
• Net profit for the quarter declined by 27.5% YoY. Net profit margins during the quarter declined from 5.7% in 3QFY18 to 4.0% in 3QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 8.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 5.4% QoQ during the same period.
• The company's operating profit increased by 38.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.1% in 3QFY19 as against 12.6% in 2QFY18.
• Net profit for the quarter increased by 489.0% QoQ, while net profit margins increased from 0.7% in 2QFY18 to 4.0% in 3QFY19.

To see how STRIDES PHARMA SCIENCE has performed over the last eight quarters, please visit here.

STRIDES PHARMA SCIENCE Share Price Performance

Over the last one year, STRIDES PHARMA SCIENCE share price has moved up from Rs 785.6 to Rs 503.7, registering a Loss of Rs 281.9 or around 35.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,736.9 (down 0.2%). Over the last one year it has moved down from 14,799.8 to 13,736.9, a gain of 1,063 points (down 7.2%).

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 503.7, the price to earnings (P/E) ratio of STRIDES PHARMA SCIENCE stands at 72.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.2 times.