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DR. REDDYS LAB Announces Quarterly Results (3QFY19); Net Profit Up 67.0%

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DR. REDDYS LAB Announces Quarterly Results (3QFY19); Net Profit Up 67.0%
Mon, 4 Feb

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

DR. REDDYS LAB Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m38,34138,17538,6461.2%0.8%
Other incomeRs m4301,2821,023-20.2%137.9%
TurnoverRs m38,77139,45739,6690.5%2.3%
ExpensesRs m30,41430,58230,6000.1%0.6%
Gross profitRs m7,9277,5938,0466.0%1.5%
DepreciationRs m2,7152,7862,9034.2%6.9%
InterestRs m17220824115.9%40.1%
Profit before taxRs m5,4705,8815,9250.7%8.3%
TaxRs m2,5288071,01125.3%-60.0%
Profit after taxRs m2,9425,0744,914-3.2%67.0%
Gross profit margin%20.719.920.8
Effective tax rate%46.213.717.1
Net profit margin%7.612.912.4
* 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 grew 0.8% on a year-on-year (YoY) basis. The expenses were up by 0.6% YoY during the same period.
  • The company's operating profit increased by 1.5% YoY during the quarter. Consequently, operating profit margins remained same and stood at 20.8% in 3QFY19.
  • Depreciation charges increased by 6.9% and finance costs increased by 40.1% YoY, respectively.
  • Other income increased by 137.9% YoY during the quarter.
  • Net profit for the quarter increased by 67.0% YoY. Net profit margins during the quarter increased from 7.6% in 3QFY18 to 12.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.1% QoQ during the same period.
  • The company's operating profit increased by 6.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.8% in 3QFY19 as against 19.9% in 2QFY18.
  • Net profit for the quarter declined by 3.2% QoQ, while net profit margins declined from 12.9% in 2QFY18 to 12.4% in 3QFY19.

To see how DR. REDDYS LAB has performed over the last eight quarters, please visit here.

DR. REDDYS LAB Share Price Performance

Over the last one year, DR. REDDYS LAB share price has moved up from Rs 2,122.1 to Rs 2,756.0, registering a Gain of Rs 633.9 or around 29.9%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,823.0 (down 1.2%). Over the last one year it has moved down from 14,067.6 to 13,823.0, a gain of 245 points (down 1.7%).

Overall, the S&P BSE SENSEX is up 1.5% over the year.

Current Valuations

At the current price of Rs 2,756.0, the price to earnings (P/E) ratio of DR. REDDYS LAB stands at 26.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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