Mankind Q1 Results: Net profit zooms 66% YoY to Rs 494 crore

Mankind Pharma on Wednesday reported a 66% year-on-year (YoY) jump in net profit to Rs 494 crore in the first quarter of FY24, led by robust growth across segments.

The Delhi-headquartered drugmaker posted Rs 298 crore in the corresponding quarter of the previous year. Revenue rose 18% YoY to Rs 2579 crore in Q1FY24.

The earnings before interest, tax, depreciation and ammortisation (EBITDA) rose 40% YoY to Rs 660 crore in Q1FY24, while EBITDA margins expanded 450 basis points YoY to 25.60%.


Domestic formulation business grew 14% YoY to Rs 2419 crore in Q1FY24, led by 12.5% growth beating the industry.
Mankind ranked four in the domestic formulation market with a market share of 4.4% in Q1FY24.

Around 94% of Mankind revenues comes from domestic formulations.

“The pharma segment outperformed the IPM by 1.5X led by volume growth and highest ever chronic share," said Rajeev Juneja, vice chairman & managing director of Mankind.

"Our market disruptive 'DMF Quality Products' campaign has seen an outstanding response and we are rapidly expanding our product offerings in this important drive," Juneja said.