Mankind Pharma Q4 Results: Net profit jumps 62% YoY to Rs 477 crore

economictimes.indiatimes.com:

The drug maker reported net profit of Rs 294 crore in the corresponding period of previous year.

Revenue from operations rose 18.9% YoY to Rs 2441 crore in Q4FY24. Revenues dropped 6.4% on a quarter-on-quarter (QoQ) basis.

The earnings before interest, tax, depreciation and amortisation (EBITDA) grew 41.5% YoY to Rs 594 crore. The EBITDA margin rose 390 basis points YoY to 24.3%.

For the full financial year or FY24, revenue from operations rose 18% to Rs 10,335 crores and net profit increased 48% to Rs 1942 crore. The EBITDA for FY24 stood at 24.7%.

The company has a net cash balance of Rs 3,260 crore as on March 31, 2024.

Domestic business that includes branded formulation and consumer healthcare increased by 10.2% to Rs 2174 crores in Q4FY24. The consumer health business grew 2.6% to Rs 156 crore.

Mankind ranks four in the Indian pharmaceutical market with a share of 4.5% in Q4FY24.

Mankind's chronic medicines share increased to 36% in FY24 as compared to 34% in FY23.

Exports business witnessed a growth of 230% YoY to Rs 267 crore in Q4FY24 aided by certain one-off opportunities in the US market.

During the quarter, Mankind has launched 4 new products in the US taking the total launched products to 39 as of March 2024.