The shares of Mankind Pharma on Thursday closed at Rs 1,913.75 up by 10 per cent after it announced strong first quarter earnings on Wednesday with a favourable view by Macquarie.
Mankind net profit
Mankind Pharma reported a 66 per cent increase in consolidated net profit to Rs 494 crore in the June quarter. The company had 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 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 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.
On the other hand, the Consumer Healthcare segment witnessed a growth of 8% YoY and 36% QoQ, Secondary sales in Prega News, HealthOKTM, Manforce condoms up by 30% YoY, 23% YoY and 11% YoY respectively in Q1FY24.
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.
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