Mankind Pharma Q4 net profit rises 50% to Rs 285 cr in first results since listing

Mankind Pharma on Tuesday reported 50 per cent year-on-year growth in consolidated net profit at Rs 285 crore for the quarter ended March 31, 2023 in the Manforce condom-maker's first earnings as a listed company. It reported a consolidated net profit of Rs 190 crore in the year-ago period.

Mankind’s consolidated revenue from core operations rose 19 per cent to Rs 2,052 crore for the fourth quarter ended March 2023 as compared to Rs 1,725 crore a year ago. However, other income of the company grew at almost 42 per cent to Rs 47 crore as against Rs 33 crore, a year ago.

On the other hand, expenses of the company have also climbed to Rs 1,725 crore as compared to Rs 1,501 crore a year ago.

For FY23, the company reported a 11 per cent drop in consolidated net profit to Rs 1,282 crore, despite a 12 per cent growth in revenue to Rs 8,749 crore.

Input costs for the company, which keeps prices lower to win more customers, fell 23.4%.

The company had a stellar stock market debut on May 9 with over 30% gains.

However, the stock took a beating in two days after the income tax department conducted searches at some of its premises. Mankind Pharma has said the searches had no impact on its business operations.

Mankind Pharma's scrip on BSE closed trading session 0.7% lower at Rs 1,357 on Tuesday.