Marksans Pharma Q1 PAT slides 4% YoY

16 Aug 2022 , 10:32 AM

Sequentially, the companys consolidated net profit jumped 103% from Rs 29.7 crore on a 3.8% rise in operating revenue from Rs 418 crore in Q1 FY23. Profit before tax rose 2.2% to Rs 76.45 crore in the first quarter as against Rs 74.78 crore posted in the same period previous year. Total expenses increased 33.5% year on year to Rs 373.82 crore in the quarter ended 30 June 2022. Cost of materials consumed stood at Rs 180.74 crore (up 59.47% YoY) and employee benefits expense stood at Rs 56.62 crore (up 15.44% YoY) in Q1 FY23. EBITDA slipped to Rs 72.9 crore in Q1 FY23 as against Rs 77.3 crore posted in Q1 FY22. EBITDA margin skid to 16.8% Q1 FY23 as compared to 22.2% reported in Q1 FY22. Gross profit margin slid to 50.5% in the quarter ended 30 June 2022 from 53.5% in the corresponding period last year. The company said that during the quarter, the input cost pressures continued to build up, adversely impacting the margins. However, it expects the inflationary pressures to moderate and remain confident in the ability to navigate the challenges. The company has started passing on the price increase to their customers. Mark Saldanha, managing director of Marksans Pharma said, We had a strong start to the year, achieving good growth across all our regions. Our existing business, new product approvals, and launches continue to drive the momentum. We have emerged as a prime manufacturer and marketer of private-label store brands of consumer healthcare products in the USA, UK and Australia. This is driven by our commitment to invest in product innovation, newer capacities, and increasing penetration. Looking ahead, we see growing demand in our OTC segment across the regions, and we are well-positioned to take advantage of these opportunities. Marksans Pharma is an Indian pharmaceutical company having a global footprint. The companys strengths lie in research, manufacturing and marketing of finished dosage pharmaceutical formulations. Shares of Marksans Pharma rose 5.92% to currently trade at Rs 52.75 on the BSE. Powered by Capital Market – Live News