VENUS REMEDIES Announces Quarterly Results (4QFY19); Net Profit Down 11.1%

Wed, 12 Jun

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

VENUS REMEDIES Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	932	691	864	25.1%	-7.3%
Other income	Rs m	3	5	38	714.4%	1036.2%
Turnover	Rs m	935	695	902	29.7%	-3.6%
Expenses	Rs m	838	643	835	29.8%	-0.4%
Gross profit	Rs m	94	47	-61	-227.8%	-164.6%
Depreciation	Rs m	62	83	83	0.0%	34.1%
Interest	Rs m	98	94	0	-100.0%	-100.0%
Profit before tax	Rs m	-62	-125	-105
Tax	Rs m	32	-6	-1		-103.3%
Profit after tax	Rs m	-94	-119	-104
Gross profit margin	%	10.1	6.9	-7.0
Effective tax rate	%	-50.9	4.4	1.0
Net profit margin	%	-10.0	-17.2	-11.6

Year-on-Year Performance:

• The company's operating income during the quarter fell 7.3% on a year-on-year (YoY) basis. The expenses were down by 0.4% YoY during the same period.
• The company's operating profit declined by 164.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 4QFY19 as against 10.1% in 4QFY18.
• Depreciation charges increased by 34.1% and finance costs declined by 100.0% YoY, respectively.
• Other income increased by 1036.2% YoY during the quarter.
• Net profit for the quarter declined by 11.1% YoY. Net profit margins during the quarter declined from -10.0% in 4QFY18 to -11.6% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 25.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 29.8% QoQ during the same period.
• The company's operating profit declined by 227.8% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.0% in 4QFY19 as against 6.9% in 3QFY18.
• Net profit for the quarter increased by 12.7% QoQ, while net profit margins increased from -17.1% in 3QFY18 to -11.6% in 4QFY19.

To see how VENUS REMEDIES has performed over the last eight quarters, please visit here.

VENUS REMEDIES Share Price Performance

Over the last one year, VENUS REMEDIES share price has moved up from Rs 57.1 to Rs 27.4, registering a Loss of Rs 29.7 or around 52.0%.

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 27.4, the price to book value (P/BV) ratio of VENUS REMEDIES stands at 0.1 times.