Marksans Pharma Operating Revenue Up By 15.3% To ₹ 500 Cr In Q1FY24

Marksans Pharma Ltd. announced the financial results on Friday for the quarter ending June 30, 2023, the company announced through an exchange filing.

Q1FY24 Financial Highlights

Operating revenue was Rs 500.0 crore, up by 15.3 percent YoY driven by market share gains in the existing products and markets

US business grew by 11.2 percent YoY. UK and Europe grew by 24.8 percent YoY. Gross profit was Rs. 257.3 crore, up by 17.5 percent YoY with a Gross margin of 51.5 percent.

EBITDA was Rs 102.0 crore, grew by 39.9 percent with an EBITDA margin of 20.4 percent. EPS grew by 3.8 percent YoY to Rs 1.52.

"We have had a strong start to FY24, with our revenue crossing INR 5 bn in the first quarter, reflecting our commitment to strengthening our OTC portfolio. We continue to experience an increase in wallet size from existing customers which reinforces our strong capabilities and relationship with our customers, we intend to strengthen the momentum in the coming quarters," said Mark Saldanha, Managing Director of the Company.

Marksans Pharma shares

The shares of Marksans Pharma on Friday at 3:30pm IST were at Rs 117.50, down by 1.01 percent.

Published on: Friday, August 11, 2023, 06:56 PM IST