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SUN PHARMA Announces Quarterly Results (2QFY19); Net Profit Down 110.7%

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SUN PHARMA Announces Quarterly Results (2QFY19); Net Profit Down 110.7%
Wed, 14 Nov

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

SUN PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m66,50372,24269,376-4.0%4.3%
Other incomeRs m2,5481,9983,51275.8%37.8%
TurnoverRs m69,05274,23972,888-1.8%5.6%
ExpensesRs m52,74756,17554,064-3.8%2.5%
Gross profitRs m13,75616,0673,168-80.3%-77.0%
DepreciationRs m3,5874,0164,2656.2%18.9%
InterestRs m1,5741,3091,295-1.0%-17.7%
Profit before taxRs m11,14412,7391,119-91.2%-90.0%
TaxRs m1,1141,6392,18933.6%96.5%
Profit after taxRs m10,03011,101-1,070-109.6%-110.7%
Gross profit margin%20.722.24.6
Effective tax rate%10.012.9195.6
Net profit margin%14.515.0-1.5
* 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 grew 4.3% on a year-on-year (YoY) basis. The expenses were up by 2.5% YoY during the same period.
  • The company's operating profit declined by 77.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.6% in 2QFY19 as against 20.7% in 2QFY18.
  • Depreciation charges increased by 18.9% and finance costs declined by 17.7% YoY, respectively.
  • Other income increased by 37.8% YoY during the quarter.
  • Net profit for the quarter declined by 110.7% YoY. Net profit margins during the quarter declined from 14.5% in 2QFY18 to -1.5% in 2QFY19.
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 3.8% QoQ during the same period.
  • The company's operating profit declined by 80.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.6% in 2QFY19 as against 22.2% in 1QFY18.
  • Net profit for the quarter declined by 109.6% QoQ, while net profit margins declined from 15.0% in 1QFY18 to -1.5% in 2QFY19.

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

SUN PHARMA Share Price Performance

Over the last one year, SUN PHARMA share price has moved up from Rs 526.2 to Rs 534.4, registering a Gain of Rs 8.2 or around 1.6%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 14,308.6 (down 1.1%). Over the last one year it has moved up from 13,727.7 to 14,308.6, a gain of 581 points (up 4.2%).

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 534.4, the price to earnings (P/E) ratio of SUN PHARMA stands at 43.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.4 times.

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