Mankind Pharma Q1 Results: PAT soars 66% YoY to Rs 487 crore on strong all-round show
Mankind Pharma on Wednesday reported a sharp 66.4% year-on-year rise in consolidated net profit for the quarter ended June 2023 to Rs 487 crore, with revenue rising 18.3% to Rs 2,579 crore. Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter surged 43% YoY to Rs 660 crore, with margins expanding by a staggering 450 basis points to 25.6%. “Our strategic initiatives across the businesses are delivering positive results, and we are hopeful that we will continue to outperform industry growth, going ahead,” said Rajeev Juneja, vice-chairman and managing director.
The company’s pharmaceutical business outperformed the industry by 1.5x, on volume-led growth and highest-ever chronic share. The domestic business reported robust 14% YoY growth in the quarter. The secondary sales saw an impressive growth of 12.5%, thereby outperforming the industry by 1.5 times.
The company registered volume growth of 4.3%, compared to the industry growth of 1.4%. The chronic segment reported 17% growth, also outperforming the industry’s 10% growth in the quarter. The chronic business share in the total sales increased to 36% in the June quarter, from 34% a year ago, and 35% a quarter ago.
The consumer healthcare segment maintained dominant brand leadership in the respective categories. The segment witnessed a growth of 8% YoY and 36% sequentially. Not only domestic, but even the exports business did well for the company.
Exports business saw a growth of 214% YoY, aided by certain one-off opportunities in the US, the company said. The company remains focussed on differentiated filings, including in-licensing for key markets. The new integrated bulk drugs and formulation
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