Mankind Pharma reports 66 percent jump in Q1 profit
Revenue from operations rose 18.3 percent to 25.79 billion rupees.;
Hyderabad: India's Mankind Pharma Ltd posted a 66% jump in June-quarter profit on Wednesday, its second quarterly results since listing in May this year, helped by strong domestic sales and continued growth in the company's chronic drugs segment.
The country's fourth-largest pharmaceutical company by domestic sales said its profit rose to 4.94 billion rupees (around $60 million) in the first quarter ended June 30, compared to 2.98 billion rupees (around $36 million) a year earlier.
Revenue from operations rose 18.3% to 25.79 billion rupees. It was backed by a 13.6% rise in its domestic business revenue, which accounts for most of the overall revenue, to 24.2 billion rupees.
"The pharma segment outperformed the Indian pharma market by 1.5X, led by volume growth and highest ever chronic (drugs) share," Rajeev Juneja, Mankind Pharma's vice Chairman and Managing Director, said on Wednesday.
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