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TTK HEALTHCARE Announces Quarterly Results (4QFY19); Net Profit Down 38.0%

Wed, 12 Jun

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

TTK HEALTHCARE Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	1,451	1,490	1,396	-6.3%	-3.8%
Other income	Rs m	23	17	23	31.1%	-1.3%
Turnover	Rs m	1,474	1,508	1,419	-5.9%	-3.7%
Expenses	Rs m	1,292	1,386	1,298	-6.3%	0.5%
Gross profit	Rs m	159	105	98	-6.2%	-38.4%
Depreciation	Rs m	36	35	41	17.8%	12.6%
Interest	Rs m	10	7	7	-1.4%	-28.3%
Profit before tax	Rs m	137	80	73	-8.8%	-46.4%
Tax	Rs m	57	31	24	-24.8%	-58.3%
Profit after tax	Rs m	80	49	50	1.5%	-38.0%
Gross profit margin	%	11.0	7.0	7.0
Effective tax rate	%	41.5	39.1	32.3
Net profit margin	%	5.4	3.2	3.5

Year-on-Year Performance:

• The company's operating income during the quarter fell 3.8% on a year-on-year (YoY) basis. The expenses were up by 0.5% YoY during the same period.
• The company's operating profit declined by 38.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 4QFY19 as against 11.0% in 4QFY18.
• Depreciation charges increased by 12.6% and finance costs declined by 28.3% YoY, respectively.
• Other income declined by 1.3% YoY during the quarter.
• Net profit for the quarter declined by 38.0% YoY. Net profit margins during the quarter declined from 5.4% in 4QFY18 to 3.5% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 6.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 6.3% QoQ during the same period.
• The company's operating profit increased by 6.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.0% in 4QFY19 as against 7.0% in 3QFY18.
• Net profit for the quarter increased by 1.5% QoQ, while net profit margins increased from 3.2% in 3QFY18 to 3.5% in 4QFY19.

To see how TTK HEALTHCARE has performed over the last eight quarters, please visit here.

TTK HEALTHCARE Share Price Performance

Over the last one year, TTK HEALTHCARE share price has moved up from Rs 833.8 to Rs 655.0, registering a Loss of Rs 178.8 or around 21.4%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,132.3 (up 0.0%). Over the last one year it has moved down from 13,755.6 to 13,132.3, a gain of 623 points (down 4.5%).

Overall, the S&P BSE SENSEX is up 12.2% over the year.

Current Valuations

At the current price of Rs 655.0, the price to earnings (P/E) ratio of TTK HEALTHCARE stands at 20.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.