Piramal Healthcare: Strong operating performance in Q4FY12; exceptional items dents bottom-line:
Piramal Healthcare (Piramal Health) reported a 16% year on-year (Y-o-Y) rise in revenue to Rs649 crore from the pharmaceutical and financial services businesses in Q4FY2012, which is higher than our estimate of Rs555 crore.
However, due to a decline in the income from investments (down 70% YoY to Rs39 crore) and 202% rise in interest costs, the adjusted profit after tax (PAT) declined by 62.5% to Rs75 crore. It provided forex gains of Rs718 crore in Q4FY2012 which partially off set the impact of exceptional charges of Rs111.74 crore during the quarter.
During the quarter the company received its second installment of Rs1,854.44 crore from Abbott through discounting of receivables, which resulted in financial charges of Rs111.74 crore. Consequently, the company reported a net loss of Rs38.7 crore during the quarter. The company has decided to give a dividend of Rs17.5 per share (face value of Rs2 each), which will consume Rs351 crore.
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Piramal Healthcare (Piramal Health) reported a 16% year on-year (Y-o-Y) rise in revenue to Rs649 crore from the pharmaceutical and financial services businesses in Q4FY2012, which is higher than our estimate of Rs555 crore.
However, due to a decline in the income from investments (down 70% YoY to Rs39 crore) and 202% rise in interest costs, the adjusted profit after tax (PAT) declined by 62.5% to Rs75 crore. It provided forex gains of Rs718 crore in Q4FY2012 which partially off set the impact of exceptional charges of Rs111.74 crore during the quarter.
During the quarter the company received its second installment of Rs1,854.44 crore from Abbott through discounting of receivables, which resulted in financial charges of Rs111.74 crore. Consequently, the company reported a net loss of Rs38.7 crore during the quarter. The company has decided to give a dividend of Rs17.5 per share (face value of Rs2 each), which will consume Rs351 crore.
....more info