Mankind Pharma net profit increases 55 percent to Rs 460 crore in Q3
New Delhi: Mankind Pharma has said its consolidated net profit increased 55 percent to Rs 460 crore for the third quarter ended December 2023.
The company had posted a net profit of Rs 296 crore in the October-December quarter of the last fiscal.
Its revenue from operations rose to Rs 2,607 crore in the period under review from Rs 2,091 crore in the year-ago period, Mankind Pharma said in a statement.
“We are delighted to announce strong Q3 results with Domestic Growth of 20% YoY led by robust growth in Chronic, recovery in anti-infectives and strong growth in modern trade and hospital sales. Our top 5 therapeutics by sales have outperformed the IPM by 1.5x. We have increased our market share in 18 out of top 20 brands on both QoQ and YoY basis. These have resulted in a robust EBITDA growth of 39% YoY and PAT growth of 55% YoY in Q3. We continue to focus on improving cash flow from operations and optimising our working capital cycle,” said Rajeev Juneja – Vice Chairman & Managing Director.
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Incorporated in 1991, Mankind Pharma is present in the domestic pharmaceuticals business present across acute and chronic therapeutic areas including anti-infectives, cardiovascular, gastrointestinal, antidiabetic, neuro/CNS, VMN and respiratory, among others with a strategy to increase chronic presence going ahead. In the consumer healthcare business, the company operates in the condoms, pregnancy detection, emergency contraceptives, antacid powders, vitamin and mineral supplements and anti-acne preparations categories, among others, with several category-leading brands. The company has 28 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.
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Original news source: https://www.ptinews.com/story/business/mankind-pharma-q3-net-profit-jumps-55-pc-to-rs-460-cr/1255968
