Profit before tax was at Rs 640.99 crore in Q2 FY24, registering a growth of 20.25% from Rs 533.01 crore recorded in Q2 FY23.

EBITDA grew 15.4% to Rs 686 crore in the September 2023 quarter from Rs 594 crore posted in Q2 FY23. EBITDA margin improved to 25.3% in Q2 FY24 as compared to 24.5% recorded in the corresponding quarter previous year.

Domestic revenue stood at Rs 2,529 crore in Q2 FY24, up by 7.3% YoY as compared with Rs 2,356 crore posted in Q2 FY23. While, export revenue stood at Rs 179 crore, up by 159.4% YoY as compared with Rs 69 crore posted in the same quarter of the previous year.

Cash flow from operations stood at Rs 481 crore during the second quarter of FY24.

Rajeev Juneja, vice chairman & managing director, Mankind Pharma, said, “We continue to report steady performance with revenue, EBITDA and PAT growing by 12%, 15% and 21% YoY respectively. While the Pharma segment has grown at par with IPM (vs outperformance earlier) – due to delayed acute season, we expect to outperform IPM given strong chronic growth and uptick in season. Focus to increase our chronic share led to outperformance of 1.4x versus IPM Chronic growth in H1 FY24.”

Meanwhile, the company’s board approved the scheme of amalgamation between Shree Jee Laboratory, JPR Labs and Jaspack Industries, wholly owned subsidiaries of the company.

Mankind pharma is one of the largest pharmaceutical company in India, which focuses on the domestic market with its Pan India presence.Mankind pharma operates at the intersection of the Indian pharmaceutical formulations and consumer healthcare sectors with the aim of providing quality products at affordable prices. The company has 25 manufacturing facilities in India manufacturing a wide range of dosage forms, including tablets, capsules, syrups, vials, ampoules, blow fill seal, soft and hard gels, eye drops, creams, contraceptives and other over-the-counter products.

The scrip declined 1.20% to Rs 1,720.20 on the BSE.