The shares of Mankind Pharma rocketed on Thursday and closed at Rs 1,913.75 up by 10 percent after it announced strong first-quarter earnings on Wednesday with a favorable view by Macquarie.
Mankind net profit
Mankind Pharma reported a 66 percent increase in consolidated net profit to Rs 494 crore in the June quarter. The company reported a net profit of Rs 298 crore in the corresponding quarter of 2022-23.
The company’s total income increased to Rs 2,637 crore in the first quarter of the current fiscal from Rs 2,196 crore in the year-ago period, Mankind Pharma said in a regulatory filing.
Domestic Business
Domestic The business achieved a robust 14% YoY growth in Q1FY24, while the Secondary Sales
demonstrated an impressive growth rate of 12.5%, showcasing a remarkable outperformance of 1.5 times compared to the 8.5% growth in the Industry Primary Market.
Consumer Healthcare
On the other hand, the Consumer Healthcare segment witnessed a growth of 8% YoY and 36% QoQ, Secondary sales in Prega News, HealthOKTM, and Manforce condoms were up by 30% YoY, 23% YoY and 11% YoY respectively in Q1FY24.
Exports
Exports business witnessed a growth of 214% YoY in Q1FY24 aided by certain one-off opportunities in the US.
The company said its board has approved the re-appointment of Ramesh Juneja as its chairman and Rajeev Juneja as vice-chairman and managing director.
Warning: Undefined variable $post in /home/u606702776/domains/thecurrentscenario.in/public_html/akola/wp-content/themes/newses/inc/ansar/hooks/hook-single-page.php on line 180
