Mankind Pharma Q4 results: PAT zooms 52% YoY to ₹294 Cr, revenue up 19%
The fourth-largest pharmaceutical company in India, Mankind Pharma, today disclosed its financial results for the fourth quarter and full year endedMarch 31, 2023.
PremiumThe fourth-largest pharmaceutical company in India, Mankind Pharma, today disclosed its financial results for the fourth quarter and full year ended March 31, 2023.
During Q4FY23 the company reported revenue from operations of ₹2,053 Cr up by 19% YoY from ₹1,726 Cr in Q4FY22. Its EBITDA stood at ₹419 Cr during the quarter ended March 2023 up by 45% YoY from ₹290 Cr during the quarter ended March 2022. Mankind Pharma said its net profit for the quarter under review reached ₹294 Cr up by 52% YoY from ₹193 Cr in the corresponding quarter of the previous fiscal year.
Mr. Rajeev Juneja – Vice Chairman & Managing Director of Mankind Pharma said “The company maintained its strong growth trajectory during the year. Our domestic business continued to outperform the IPM in FY23, led by growth in chronic segments whose share has increased to 34% from 33% in FY22. Our consumer healthcare business has maintained its doubledigit growth with dominant brand leadership in its categories. Our focus is on increasing value of prescription within existing class II-IV and rural markets and increasing penetration in Metros through higher chronic presence. We also plan to leverage our brand dominance to grow our consumer healthcare business, going ahead".
The company said its domestic revenue stood at ₹1,972 Cr during Q4FY23 up by 18% YoY from ₹1,677 Cr in Q4FY22 and its revenue from the consumer healthcare segment stood at ₹152 Cr up by 10% YoY from ₹138 Cr in the year-ago quarter. Mankind Pharma said its revenue from the exports segment reached ₹81 Cr in Q4FY23 up by 63% YoY from ₹49 Cr in Q4FY22.
For the full year ended March 31, 2023, the company's revenue from operations stood at INR 8,749 crore, up by 12% YoY and EBITDA reached INR 1,913 crore with a margin of 21.9%. The company’s net profit stood at ₹1,310 Cr during 12MFY23 down by 10% from ₹1,453 Cr in 12MFY22.
On Tuesday, the shares of Mankind Pharma closed on the NSE at ₹1,357.15 apiece down by 0.76 % from the previous close of ₹1,367.60. Commenting on the outlook of the stock post its financial results, A R Ramachandran, Co-founder & Trainer-Tips2trades said "Mankind Pharma Q4FY23 results are very good with strong YoY sales growth but the stock price has strong resistance at 1385 on the Daily charts. A daily close above this level could lead to targets of 1420-1510 in the near term. Support will be at 1300."
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