GSK PHARMA Announces Quarterly Results (3QFY21); Net Profit Up 124.4%

Wed, 10 Feb

GSK PHARMA has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

GSK PHARMA Quarterly Financials

No. of Mths Qtr. Ending		3 Dec-19*	3 Sep-20*	3 Dec-20*	QoQ Change	YoY Change
Net Sales	Rs m	7,787	8,794	8,584	-2.4%	10.2%
Other income	Rs m	163	89	139	55.5%	-14.6%
Turnover	Rs m	7,949	8,883	8,723	-1.8%	9.7%
Expenses	Rs m	6,540	6,744	6,516	-3.4%	-0.4%
Gross profit	Rs m	-6,123	1,409	2,173	54.2%
Depreciation	Rs m	183	220	177	-19.4%	-3.4%
Interest	Rs m	30	9	9	6.8%	-68.5%
Profit before tax	Rs m	-6,173	1,270	2,125	67.4%
Tax	Rs m	268	505	552	9.4%	105.7%
Profit after tax	Rs m	-6,441	765	1,574	105.7%
Gross profit margin	%	-78.6	16.0	25.3
Effective tax rate	%	-4.3	39.7	26.0
Net profit margin	%	-81.0	8.6	18.0

Year-on-Year Performance:

• The company's operating income during the quarter grew 10.2% 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 135.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY21 as against 78.6% in 3QFY20.
• Depreciation charges declined by 3.4% and finance costs declined by 68.5% YoY, respectively.
• Other income declined by 14.6% YoY during the quarter.
• Net profit for the quarter increased by 124.4% YoY. Net profit margins during the quarter increased from -81.0% in 3QFY20 to 18.0% in 3QFY21.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter fell 2.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.4% QoQ during the same period.
• The company's operating profit increased by 54.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 25.3% in 3QFY21 as against 16.0% in 2QFY20.
• Net profit for the quarter increased by 105.7% QoQ, while net profit margins increased from 8.6% in 2QFY20 to 18.0% in 3QFY21.

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

Introducing: The Great Indian Wealth Project

GSK PHARMA Share Price Performance

Over the last one year, GSK PHARMA share price has moved up from Rs 1,301.3 to Rs 1,457.0, registering a Gain of Rs 155.8 or around 12.0%.

Meanwhile, the S&P BSE HEALTHCARE Index is trading at Rs 21,752.6 (down 0.1%). Over the last one year it has moved up from 14,241.2 to 21,752.6, a gain of 7,511 points (up 52.7%).

Overall, the S&P BSE SENSEX is up 25.0% over the year.

Current Valuations

At the current price of Rs 1,457.0, the price to earnings (P/E) ratio of GSK PHARMA stands at 51.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 11.5 times.