ReutersRevenue rose 11.6% YoY to Rs 2,708 in Q2FY24. The earnings before interest, tax, depreciation and amortization (EBITDA) grew 15.4% YoY to Rs 686 crore. The EBITDA margin rose 80 basis points YoY to 25.3%.
Domestic branded formulation business increased 7.3% YoY to Rs 253 crore, while consumer healthcare grew only 1.6%.
Mankind attributed the softness in domestic business to delayed acute season. Mankind ranks fourth in the Indian pharmaceutical market with a share of 4.4% in Q2FY24.
Mankind's chronic medicine sales growth was 10% in Q2FY24 as compared to IPM's chronic growth of 9% in Q2FY24. Chronic share increased to 34% in Q2FY24 as compared to 32% in Q2FY23.
Exports business witnessed growth of 159% YoY to Rs 179 crore in Q2FY24 aided by certain one-off opportunities in the US market.
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Zee, Sony Merger Energised as SAT Lifts Goenka BanThe Securities Appellate Tribunal (SAT) on Monday overturned a regulatory ban on Punit Goenka, managing director and chief executive of Zee Entertainment Enterprises, that prevented him from holding a directorship or top managerial role in a listed entity.
TaMo Wins Arbitral Award of ₹766 cr in Nano-Singur CaseTata Motors, which sought to democratise car ownership in India with its ₹1-lakh Nano, has won a ₹766-crore award in an arbitration involving a state agency of West Bengal where the small-car plant, mothballed after a protracted stir over land acquisition, is located.
Tracking Benchmarks? Pls Read Broader Mkt CarefullyThe benchmark Nifty has only corrected 2.5% in October so far, but granular data suggests bigger woes for investors. One such number, the advance-to-decline ratio for Nifty 500 stocks this month stands at 0.39, marking its lowest level in sixteen months, thereby underscoring the severity of the ongoing correction.
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