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Revenue from operations jumped 18.3% to Rs 2,578.62 crore during the quarter as compared with Rs 2,180 crore posted in corresponding quarter last year.
Profit before tax increased 63.5% year on year to Rs 624.47 crore during the quarter.
EBITDA stood at Rs 660 crore, up 43% YoY in Q1 FY24. EBITDA margin was at 25.6% in Q1 FY24 as against 65.4% in Q1 FY23.
Revenue from domestic business jumped 14% to Rs 2,419 crore in Q1 FY24 as compared with Rs 2,129 crore in Q1 FY23. Chronic share increased to 36% in Q1FY24 as compared to 34% in Q1FY23 and 35% in Q4FY23.
Revenue from consumer healthcare business stood at Rs 208 crore in Q1 FY24, registering the growth of 8% as compared with Rs 193 crore psoted in same quarter last year. Exports business witnessed a growth of 214% YoY in Q1FY24 aided by certain one-off opportunities in the US.
As on 30 June 2023, total capex stood at Rs 111 crore.
Rajeev Juneja, vice chairman & managing director, said, “We have started the year on a healthy note, with strong double digit growth in sales and profitability. The Pharma segment outperformed the IPM by 1.5X led by volume led growth and highest ever chronic share. Our consumer healthcare segment maintained dominant brand leadership in respective categories. We have also seen positive results of our prior initiatives to improve profitability, with EBITDA growing 43% YoY. Our market disruptive “DMF Quality Products” campaign has seen an outstanding response and we are rapidly expanding our product offerings in this important initiative. Our strategic initiatives across the businesses are delivering positive results and we are hopeful that we will continue to outperform industry growth, going ahead.”
Meanwhile, the board has approved the re-appointment of Ramesh Juneja as chairman and whole-time director of the company for the period of 5 years with effect from May 15, 2024 to May 14, 2029. It has also approved the re-appointment of Rajeev Juneja as vice chairman and managing director for period of five years with effect from 15 May 2024.
Further, the board has also approved re-appointment of Sheetal Arora as whole-time director and chief executive officer of the company for period of 5 years with effect from 15 May 2024.
Mankind Pharma is engaged in manufacturing of pharmaceutical formulations. The company is one of the leading manufacturers of prescription medicines.
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