Mankind Pharma Q3 Results: Profit Jumps 56% YoY, Revenue Up 21%
Mankind Pharma reported a robust 56% surge in net profit for the December 2023 quarter, although the figure slightly missed analyst estimates. The company’s revenue also grew by over 21% year-on-year.
Key Financial Highlights
- Net Profit: ₹460.9 crore, up 56% YoY (Estimate: ₹480 crore).
- Revenue: ₹2,569.5 crore, up 21.3% YoY (Estimate: ₹2,600 crore).
- EBITDA: ₹690.3 crore, up 39.5% YoY (Estimate: ₹700 crore).
- EBITDA Margin: Expanded to 26.9% from 23.4% a year ago.
Segment-Wise Performance
The company saw strong growth across all its key business segments:
- Domestic Formulations: Grew 20% year-on-year, driven by performance across therapies.
- Consumer Healthcare: Registered a 17% YoY growth, led by its power brands.
- International Business: Showed the strongest growth at 29% YoY.
“We are pleased to report a strong performance in Q3 FY24, with robust growth across our key business segments. Our domestic formulation business continues to perform well, driven by strong growth across therapies. Our consumer healthcare business also delivered a healthy growth, led by strong performance of our power brands. We remain committed to our mission of providing quality healthcare at affordable prices to the masses,” said Rajeev Juneja, Vice Chairman and Managing Director, Mankind Pharma.
Market Reaction
On the day of the results announcement, shares of Mankind Pharma closed at ₹2,099.00 on the BSE, down marginally by 0.14%.
