Mankind Pharma reports 60% y-o-y growth in net profit at ₹454 Crore

1 Feb 2024 , 11:11 AM

On Wednesday, Mankind Pharma announced a 60% year-on-year (YoY) increase in consolidated net profit for the quarter ending December 2023 to ₹454 Crore. Revenue from operations grew by 25% year-on-year to ₹2,607 Crore.

Earnings before interest, taxes, depreciation, and amortization, or EBITDA, rose 38.4% YoY to ₹606 Crore. Operating margin increased sharply by 230 basis points year on year to 23.3%.

Domestic income increased by 20% YoY to ₹2,400 Crore, while exports more than quadrupled to ₹207 Crore. The high domestic revenue was driven by robust growth in the chronic portfolio, an improvement in anti-infectives, and a good increase in modern commerce and hospital sales.

Exports had strong growth, supported by a few one-time opportunities in the US. The consumer healthcare sector sales fell during the quarter due to actions taken in the previous quarter to optimise channel inventories and adopt IT solutions to aid stockist consolidation.

For the nine months ended December, the company’s sales increased 18% year on year to ₹7,894 Crore, while operating profit increased 31% to ₹1,957 Crore. Net profit rose 44% to ₹1,465 Crore.

The pharma major continued to see a substantial increase in secondary/tertiary sales for major products, increasing its market share.

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