Revenue from operations in the same period rose 12% year-on-year (YoY) to Rs 2,893 crore. The same stood at Rs 2,579 crore in the previous year period.
The company reported an EBITDA (earnings before interest, tax, depreciation and amortisation) at Rs 681 crore, which is up 4% YoY. Meanwhile, margins for the quarter fell 188 basis points to 23.54%.
The profit before tax (PBT) increased 7% YoY to Rs 668 crore in the April-June 2024 period, compared with Rs 624 crore in the corresponding period of last year.
“We witnessed a steady revenue growth of 12.2% YoY with continued outperformance of 1.2x to IPM driven by a strong recovery in volume,” said Rajeev Juneja, VC & MD, Mankind Pharma.Mankind is now the second largest pharma company by volume with an increase in market share of 20 bps YoY to 6.1%.The domestic business revenue saw growth of 9% year-on-year, with secondary sale rising 10%.The company said it is consistently expanding from mass market to specialty chronic leading to outperformance of 1.3x to IPM Chronic (with chronic share at 37%). BSV2, a super specialty business with high entry barrier portfolio and complex R&D tech platform is said to add another layer of growth.
In the consumer healthcare business, recovery in revenue was seen with 32% quarter-on-quarter jump in Q1FY25 supported by faster growth in modern trade, e-commerce and q-commerce channels.
In the first quarter, exports witnessed a growth of 62% year-on-year driven by increase in our base business, and new launches. During the quarter, the company has launched 2 new products in US taking the total launched products to 41.
On Wednesday, Mankind Pharma shares were trading 1.43% lower at Rs 2,026.2 on NSE.