SUN PHARMA Announces Quarterly Results (4QFY19); Net Profit Down 53.4%

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SUN PHARMA Announces Quarterly Results (4QFY19); Net Profit Down 53.4%
Thu, 30 May

SUN PHARMA has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

SUN PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m69,77177,40271,639-7.4%2.7%
Other incomeRs m3,0281,9312,81545.8%-7.0%
TurnoverRs m72,79979,33374,455-6.1%2.3%
ExpensesRs m52,93655,87361,47110.0%16.1%
Gross profitRs m16,83521,52910,168-52.8%-39.6%
DepreciationRs m4,5524,7114,541-3.6%-0.3%
InterestRs m1,5541,4481,5003.6%-3.4%
Profit before taxRs m13,75617,3016,942-59.9%-49.5%
TaxRs m-1,7672,709-288-110.6%
Profit after taxRs m15,52314,5927,231-50.4%-53.4%
Gross profit margin%24.127.814.2
Effective tax rate%-12.815.7-4.1
Net profit margin%21.318.49.7
* 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 2.7% on a year-on-year (YoY) basis. The expenses were up by 16.1% YoY during the same period.
  • The company's operating profit declined by 39.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.2% in 4QFY19 as against 24.1% in 4QFY18.
  • Depreciation charges declined by 0.3% and finance costs declined by 3.4% YoY, respectively.
  • Other income declined by 7.0% YoY during the quarter.
  • Net profit for the quarter declined by 53.4% YoY. Net profit margins during the quarter declined from 21.3% in 4QFY18 to 9.7% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.0% QoQ during the same period.
  • The company's operating profit declined by 52.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.2% in 4QFY19 as against 27.8% in 3QFY18.
  • Net profit for the quarter declined by 50.4% QoQ, while net profit margins declined from 18.4% in 3QFY18 to 9.7% in 4QFY19.

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 494.8 to Rs 418.3, registering a Loss of Rs 76.5 or around 15.5%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,333.1 (up 0.2%). Over the last one year it has moved up from 13,111.9 to 13,333.1, a gain of 221 points (up 1.7%).

Overall, the S&P BSE SENSEX is up 13.6% over the year.

Current Valuations

At the current price of Rs 418.3, the price to earnings (P/E) ratio of SUN PHARMA stands at 31.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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