TORRENT PHARMA Announces Quarterly Results (4QFY19); Net Profit Down 166.7%

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TORRENT PHARMA Announces Quarterly Results (4QFY19); Net Profit Down 166.7%
Wed, 22 May

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

TORRENT PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m17,22020,51018,560-9.5%7.8%
Other incomeRs m42030170466.7%-59.5%
TurnoverRs m17,64020,54018,730-8.8%6.2%
ExpensesRs m13,58014,90013,830-7.2%1.8%
Gross profitRs m3,6405,6101,160-79.3%-68.1%
DepreciationRs m1,5101,5601,6002.6%6.0%
InterestRs m1,2101,3301,230-7.5%1.7%
Profit before taxRs m1,3402,750-1,500-154.5%-211.9%
TaxRs m-94029020-93.1%
Profit after taxRs m2,2802,460-1,520-161.8%-166.7%
Gross profit margin%21.127.46.3
Effective tax rate%-70.110.5-1.3
Net profit margin%12.912.0-8.1
* 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 7.8% on a year-on-year (YoY) basis. The expenses were up by 1.8% YoY during the same period.
  • The company's operating profit declined by 68.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.3% in 4QFY19 as against 21.1% in 4QFY18.
  • Depreciation charges increased by 6.0% and finance costs increased by 1.7% YoY, respectively.
  • Other income declined by 59.5% YoY during the quarter.
  • Net profit for the quarter declined by 166.7% YoY. Net profit margins during the quarter declined from 12.9% in 4QFY18 to -8.1% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.2% QoQ during the same period.
  • The company's operating profit declined by 79.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.3% in 4QFY19 as against 27.4% in 3QFY18.
  • Net profit for the quarter declined by 161.8% QoQ, while net profit margins declined from 12.0% in 3QFY18 to -8.1% in 4QFY19.

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

TORRENT PHARMA Share Price Performance

Over the last one year, TORRENT PHARMA share price has moved up from Rs 1,337.4 to Rs 1,556.5, registering a Gain of Rs 219.2 or around 16.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,290.2 (up 0.2%). Over the last one year it has moved up from 12,829.5 to 13,290.2, a gain of 461 points (up 3.6%).

Overall, the S&P BSE SENSEX is up 13.1% over the year.

Current Valuations

At the current price of Rs 1,556.5, the price to earnings (P/E) ratio of TORRENT PHARMA stands at 60.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.7 times.

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For the quarter ended September 2019, TORRENT PHARMA has posted a net profit of Rs 2 bn (up 36.3% YoY). Sales on the other hand came in at Rs 20 bn (up 5.9% YoY). Read on for a complete analysis of TORRENT PHARMA's quarterly results.

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