Pfizer Ltd's Q2FY19 standalone net profit declines 13.81% yoy to Rs95.80cr: Misses Estimates

The company’s standalone revenue in the quarter stood at Rs519.74cr, down 8.99% yoy but up 1.45% qoq.

Nov 14, 2018 09:11 IST India Infoline Research Team

Pfizer Ltd Q2FY19

Standalone Results Q2FY19: (in Rs cr)

Q2FY19 YoY (%)
Revenue 519.74 [9.0]
EBITDA 129.77 [22.4]
EBITDA Margin (%) 25 [431]
Net Profit (adjusted) 95.80 [13.8]
***EBITDA margin change is bps
Pfizer’s revenue in Q2FY19 declined 9% yoy to Rs519.7cr. The decline in the revenue was on account of the high base in Q2FY18 due to re-stocking post-GST implementation. EBITDA declined 22.4% yoy to Rs129.8cr in Q2FY19 vs. Rs167.2cr in Q2FY18. EBITDA margins declined 431bps to 25% in Q2FY19 vs. 29.3% in Q2FY18 and 25.4% in Q1FY19. PAT declined 13.8% yoy to Rs95.8cr in Q2FY19 vs. Rs111.2cr in Q2FY18.

Other highlights
  • Gross margins improved 289bps yoy but declined 304bps qoq to 61% in Q2FY19.
  • Employee cost declined 1.6% yoy to Rs78cr in Q2FY19 vs. Rs79.3cr in Q2FY18.
  • Other expenses, however, grew 28.1% yoy to Rs109.1cr in Q2FY19 vs. Rs85.1cr in Q2FY18.
  • Total cash and bank balances stood at Rs404/share at the end of the H1FY19.

Technical View:

Pfizer Ltd is currently trading at Rs2,790.75, down 70.8 points, or 2.47%, from its previous close of Rs2,861.55 on the BSE. The scrip opened at Rs2,890 and has touched a high and low of Rs2,890 and Rs2,785.10, respectively. So far, 25,904 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 50-DMA.

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