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GLENMARK PHARMA Announces Quarterly Results (4QFY18); Net Profit Down 6.6%

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GLENMARK PHARMA Announces Quarterly Results (4QFY18); Net Profit Down 6.6%
Thu, 31 May

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

GLENMARK PHARMA Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-17*
3
Dec-17*
3
Mar-18*
QoQ ChangeYoY Change
Net SalesRs m24,57222,03722,7983.5%-7.2%
Other incomeRs m513-23269635.6%
TurnoverRs m25,08521,80523,4947.7%-6.3%
ExpensesRs m20,13318,81019,5303.8%-3.0%
Gross profitRs m2,6033,2273,2681.3%25.6%
DepreciationRs m689754735-2.5%6.7%
InterestRs m6977057445.6%6.8%
Profit before taxRs m1,7301,5372,48561.7%43.6%
TaxRs m10748996897.9%802.7%
Profit after taxRs m1,6231,0471,51644.8%-6.6%
Gross profit margin%10.614.614.3
Effective tax rate%6.231.839.0
Net profit margin%6.54.86.5
* 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 fell 7.2% on a year-on-year (YoY) basis. The expenses were down by 3.0% YoY during the same period.
  • The company's operating profit increased by 25.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.3% in 4QFY18 as against 10.6% in 4QFY17.
  • Depreciation charges and finance costs increased by 6.7% YoY and 6.8% YoY, respectively.
  • Other income increased by 35.6% YoY during the quarter.
  • Net profit for the quarter declined by 6.6% YoY. Net profit margins during the quarter declined from 6.5% in 4QFY17 to 6.5% in 4QFY18.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.8% QoQ during the same period.
  • The company's operating profit increased by 1.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.3% in 4QFY18 as against 14.6% in 3QFY17.
  • Net profit for the quarter increased by 44.8% QoQ, while net profit margins increased from 4.8% in 3QFY17 to 6.5% in 4QFY18.

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

GLENMARK PHARMA Share Price Performance

Over the last one year, GLENMARK PHARMA share price has moved up from Rs 636.5 to Rs 523.0, registering a Loss of Rs -113.5 or around 17.8%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 13,042.0 (down 0.5%). Over the last one year it has moved down from 13,563.8 to 13,042.0, a gain of -521.8 points (down 3.8%).

Overall, the S&P BSE SENSEX is up 0.5% over the year.

Current Valuations

At the current price of Rs 523.0, the price to earnings (P/E) ratio of GLENMARK PHARMA stands at 17.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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