Mankind Pharma Sees 30% Profit Surge in Q2

6 Nov 2024 , 10:12 PM

Mankind Pharma reported a 30.4% year-on-year increase in net profit for Q2 FY2024, reaching ₹653.5 Crore compared to ₹501 Crore in the same quarter last year.

Revenue from operations grew by 13.6% YoY, totaling ₹3,076.5 Crore, up from ₹2,708.1 Crore in Q2 of the previous fiscal. EBITDA surged 24.5% to ₹850 Crore, with the EBITDA margin improving to 27.6%, up from 25.2% in the previous year’s quarter.

Domestic revenue reached ₹2,796 Crore, an 11% YoY increase, while exports saw significant growth, jumping 57% to ₹281 Crore. Diluted EPS rose by 30% to ₹16.3, showing strong financial performance in the quarter.

Mankind’s domestic secondary sales outpaced the Indian pharmaceutical market (IPM) with 8.6% growth, supported by a 3.4x volume growth advantage and 1.3x higher growth in the chronic segment. Regulatory challenges in certain acute products and workforce optimization affected growth slightly.

Mankind’s consumer healthcare division saw 20% YoY growth, led by brands like Manforce, Gas-o-fast, and HealthOk, benefiting from expanding channels in modern trade, e-commerce, and quick-commerce.

Export revenue climbed 57%, driven by increased base business and new product launches, including one new product in the US, bringing the total to 42 launches in that market.