Mankind Pharma Q1 Results: Net profit jumps 10% to Rs 543 crore

Mankind Pharma on Wednesday reported a 10% year-on-year (YoY) jump in net profit to Rs 543 crore in Q1FY25 led by strong domestic formulation sales.

The drug maker reported net profit of Rs 494 crore in the corresponding period of previous year.
Revenue from operations rose 12.2% YoY to Rs 2,893 crore in Q1FY25. On a quarter-on-quarter (QoQ) basis revenue and net profit increased 18.5% and 14%, respectively.


The earnings before interest, tax, depreciation and amortization (EBITDA) grew 4% YoY to Rs 686 crore. The EBITDA margin dropped 190 basis points YoY to 23.7%.

Domestic branded formulation business including consumer healthcare increased 9% YoY to Rs 2634 crore.led by strong volume growth of 1.9% compared to 0.4% for Indian pharmaceutical market.

The consumer healthcare business alone declined 0.9% to Rs 206 crore. On a QoQ basis domestic formulation revenues gained 21.2 % and consumer health 32%.The consumer health business growth was supported by faster growth in modern trade, e-commerce and q-commerce channels.

In Q1FY25, witnessed a growth of 62% YoY growth to Rs 259 crore driven by increase in base business, and
new launches.

During the quarter, the company has launched two new products in the US taking the total launched products to 41.
"We are now the 2nd largest pharma company by volume with an increase in market share of 20 basis points YoY to 6.1%," said Rajeev Juneja, vice chairman and MD of Mankind.

"(We are) consistently expanding from mass market to specialty chronic leading to outperformance of 1.3x to IPM chronic, BSV's super specialty business with high entry barrier portfolio and complex R&D tech platform to add another layer of growth," Juneja said.

Mankind last week announced Rs 13,600 crore acquisition of Mumbai-based Bharat Serums & Vaccines (BSV) from private equity (PE) firm Advent International.