ETMarkets.comMankind Pharma on Wednesday reported a 66% year-on-year (YoY) jump in net profit to Rs 494 crore in the first quarter of FY24, led by robust growth across segments.
The Delhi-headquartered drugmaker posted Rs 298 crore in the corresponding quarter of the previous year. Revenue rose 18% YoY to Rs 2579 crore in Q1FY24.
The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 40% YoY to Rs 660 crore in Q1FY24, while EBITDA margins expanded 450 basis points YoY to 25.60%.
Domestic formulation business grew 14% YoY to Rs 2419 crore in Q1FY24, led by 12.5% growth beating the industry.
Mankind ranked four in the domestic formulation market with a market share of 4.4% in Q1FY24.
Around 94% of Mankind revenues comes from domestic formulations.
"Our market disruptive 'DMF Quality Products' campaign has seen an outstanding response and we are rapidly expanding our product offerings in this important drive," Juneja said.
The Delhi-headquartered drugmaker posted Rs 298 crore in the corresponding quarter of the previous year. Revenue rose 18% YoY to Rs 2579 crore in Q1FY24.
The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 40% YoY to Rs 660 crore in Q1FY24, while EBITDA margins expanded 450 basis points YoY to 25.60%.
Domestic formulation business grew 14% YoY to Rs 2419 crore in Q1FY24, led by 12.5% growth beating the industry.
Mankind ranked four in the domestic formulation market with a market share of 4.4% in Q1FY24.
Around 94% of Mankind revenues comes from domestic formulations.
“The pharma segment outperformed the IPM by 1.5X led by volume growth and highest ever chronic share," said Rajeev Juneja, vice chairman & managing director of Mankind.
"Our market disruptive 'DMF Quality Products' campaign has seen an outstanding response and we are rapidly expanding our product offerings in this important drive," Juneja said.
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