Marksans Pharma Ltd. (NSE: MARKSANS; BSE Code: 524404) reported the financial results today for the quarter and half year ending September 30, 2023, the company announced through an exchange filing.
Q2FY24 Financial Highlights
The company reported robust financial performance, with operating revenue reaching Rs. 531.2 cr., marking a significant YoY increase of 17.4%. This growth was attributed to market share gains in existing products and markets.
The gross profit stood at Rs. 278.5 cr., reflecting a remarkable YoY surge of 21.4%, accompanied by a strong gross margin of 52.4%. EBITDA demonstrated substantial growth, reaching Rs. 113.9 cr., representing a remarkable 41.9% increase, with an EBITDA margin of 21.4%.
The company's earnings per share (EPS) also displayed positive momentum, growing by 21.2% YoY to Rs. 1.8.
H1FY24 Financial Highlights
In the fiscal year 2024, the company showcased strong financial performance, with operating revenue surging to Rs. 1,031.3 cr., marking an impressive YoY growth of 16.3%. This notable increase was fueled by the successful launch of new products and the acquisition of additional market share with existing customers, both domestically and internationally.
Specifically, the US business experienced a commendable growth of +14.1% YoY, while the UK and Europe regions saw an even more substantial growth of +22.6% YoY. The gross profit reached Rs. 535.8 cr., demonstrating a significant YoY increase of +19.5%, accompanied by a robust gross margin of 52.0%. EBITDA exhibited substantial growth, reaching Rs. 215.9 cr., reflecting an impressive 41.0% increase, with an EBITDA margin of 20.9%. Furthermore, the earnings per share (EPS) showed positive momentum, growing by 12.3% YoY to Rs. 3.4.
