Mankind Pharma Reports Q3 Profit Decline Despite Revenue Growth
Q3 Financial Results
Mankind Pharma has announced a 16.5% decline in its consolidated net profit for the third quarter, ending December 31, 2024. The company's profit decreased to Rs 384 crore, down from Rs 460 crore in the same period last year. Despite the profit dip, the company experienced a notable increase in revenue from operations, rising to Rs 3,230 crore from Rs 2,607 crore.
Domestic and International Performance
Mankind Pharma's domestic business witnessed a 15.5% year-on-year growth, reaching Rs 2,773 crore in the third quarter. The consumer healthcare segment also showed positive momentum, with revenue increasing to Rs 193 crore, up from Rs 149 crore in the same quarter of the previous year. Additionally, the company's export revenue experienced a significant jump, reaching Rs 457 crore, compared to Rs 207 crore in the same period last year.
Strategic Achievements
The company's Vice Chairman and MD, Rajeev Juneja, highlighted the robust 24% year-on-year revenue growth achieved by Mankind Pharma. The company maintained a strong adjusted EBITDA margin of 27.7% in Q3FY25. This performance is attributed to continued success in the chronic segment, recovery in OTC products, and the consolidation of Bharat Serums and Vaccines (BSV).
Acquisition of Bharat Serums and Vaccines
Mankind Pharma successfully completed the acquisition of Bharat Serums and Vaccines for Rs 13,768 crore. The integration process is currently underway, with a focus on key brands, enhanced productivity, and adopting best practices to ensure sustainable growth. These efforts are viewed as crucial for the company's long-term success.
Stock Market Reaction
On Thursday, Mankind Pharma's shares closed with a gain of 4.68% on the BSE, priced at Rs 2,632.70 each. This positive market reaction indicates investor confidence, despite the reported decline in net profit for the quarter.
Future Outlook
Mankind Pharma's strategic initiatives, including the successful integration of acquisitions and expansion of its market presence, suggest a positive outlook for the company's future performance. These efforts are expected to support the company in achieving its long-term goals.
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