Mankind Pharma Q3 Results: Net profit jumps 56% YoY to Rs 460 crore

Mankind Pharma on Wednesday reported a 56% year-on-year (YoY) jump in net profit to Rs 460 crore in Q3FY24 led by strong domestic formulation sales and one-off US export opportunities. The drug maker reported a net profit of Rs 296 crore in the corresponding period of the previous year.

Revenue from operations rose 24.7% YoY to Rs 2,607 crore in Q3FY24. Revenues dropped 3.7% on a quarter-on-quarter (QoQ) basis. The earnings before interest, tax, depreciation, and amortization (EBITDA) grew 39.1% YoY to Rs 611 crore. The EBITDA margin rose 240 basis points YoY to 23.4%.

Domestic branded formulation business increased 20.2% YoY to Rs 2400 crore, including consumer healthcare declined 4.8% to Rs 149 crore. On a QoQ basis domestic formulation revenues declined 5.1% and consumer health dropped 22.8% due to the optimization of channel inventory;


Mankind ranks fourth in the Indian pharmaceutical market with a share of 4.5% in Q3FY24.

Mankind's chronic medicine sales growth was 12.2% in Q3FY24 as compared to IPM's chronic growth of 8.3% in Q3FY24.

Chronic share increased to 35% in Q3FY24 as compared to 34% in Q3FY23.

Exports business witnessed a growth of 118% YoY to Rs 207 crore in Q3FY24 aided by certain one-off opportunities in the US market.