Mankind Pharma Q2 Profit Jumps 39% to Rs 711 Crore on Strong Cardiac, Diabetes Drug Sales
New Delhi: Indian drugmaker Mankind Pharma reported an over 39% jump in second-quarter profit on Monday, helped by strong demand for chronic therapies such as diabetes and cardiac treatments,
Here are the details:
- Consolidated net profit rose to 7.11 billion rupees ($74.7 million) for the quarter ended September 30, from 5.12 billion rupees a year earlier.
- Mankind Pharma , opens new tab and peers including Torrent Pharma, opens new tab continue to benefit from strong demand for chronic therapies, particularly diabetes and cardiovascular treatments, helping drive steady growth in the domestic formulations business.
- Its domestic revenue, excluding the consumer healthcare business, climbed 16% to 34.28 billion rupees, led by a 19% growth in its cardiac segment and a 16% climb in its anti-diabetes segment.
- This boosted overall revenue by 17.3% to 43.38 billion rupees.
- Mankind Pharma makes prescription medicines across chronic and acute therapies, and consumer healthcare products including Manforce condoms, Prega News pregnancy test kits and Gas-O-Fast antacid tablets.
- Last week, peer Torrent Pharma , opens new tab reported a near 10% drop in quarterly profit as R&D costs outweighed strong domestic demand.
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