Natco Pharma Ltd's Q1FY19 consolidated net profit rises 93.28% yoy to Rs181.10cr : Misses Estimates

The company’s consolidated revenue stood at Rs538.60cr, up 25.81% yoy but down 29.85% qoq.

Aug 09, 2018 06:08 IST India Infoline Research Team

Natco Pharma Ltd Q1FY19

Consolidated Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 538.60 25.8
EBITDA 217.60 59.2
EBITDA Margin (%) 40.4 847
Net Profit (adjusted) 181.10 93.3
***EBITDA margin change is bps

Natco Pharma’s revenue in Q1FY19 grew by 25.8% yoy to Rs538.6cr. EBITDA grew by 59.2% yoy to Rs217.6cr in Q1FY19 vs. Rs136.7cr in Q1FY18. EBITDA margins in Q1FY19 stood at 40.4% vs. 49.9% in Q4FY18 and 31.9% in Q1FY18. PAT grew by 93.3% yoy to Rs181.1cr vs. Rs93.7cr in Q1FY18.
  • The results are below expectations on all parameters.
  • Gross margin stood at 83.8% in Q1FY19 vs. 84% in Q4FY18 and 74.4% in Q1FY18.
  • Employee cost grew by 40.6% yoy to Rs88.7cr in Q1FY19. In % of sales terms, employee cost grew by 213bps qoq and 173bps yoy to 16.5% in Q1FY19.
  • Other expenses grew by 22% yoy to Rs145cr. In % of sales terms, other expenses grew by 720bps qoq but contracted 85bps yoy to 26.9% in Q1FY19.
  • Other income stood at Rs35.9cr in Q1FY19 vs. Rs20.1cr in Q4FY18 and Rs3.4cr in Q1FY19.

Technical View:

Natco Pharma Ltd ended at Rs. 812.85, down by 0.5 points or 0.06% from its previous closing of Rs. 813.35 on the BSE.
The scrip opened at Rs. 825 and touched a high and low of Rs. 825 and Rs. 778.30 respectively. A total of 3,00,213 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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