Marksans Pharma jumped 6.56% to Rs 54.45 after the pharma company's consolidated net profit rose 29.9% to Rs 60.12 crore on a 25.3% increase in revenue from operations to Rs 452.56 crore in Q2 FY23 over Q2 FY22.
Sequentially, the company's consolidated net profit slipped marginally from Rs 601.84 crore while revenue from operations rose 4.3% from Rs 433.77 crore in Q1 FY23.The rise in revenue was driven by a strong underlying volume growth in existing products as well as market share gains, said the company.
Profit before tax rose 30.2% to Rs 77.83 crore in the second quarter as against Rs 59.78 crore posted in the same period previous year.
Total expenses increased 25.45% year on year to Rs 388.89 crore in the quarter ended 30 September 2022. Cost of materials consumed stood at Rs 140.19 crore (down 17.64% YoY) and employee benefits expense stood at Rs 59.67 crore (up 8.9% YoY) in Q2 FY23.
EBITDA grew to Rs 80.3 crore in Q2 FY23 as against Rs 60.1 crore posted in Q2 FY22. EBITDA margin improved to 17.7% in Q2 FY23 as compared to 16.6% reported in Q2 FY22. Gross profit margin slid to 50.7% in the quarter ended 30 September 2022 from 51.4% in the corresponding period last year.
Mark Saldanha, managing director of Marksans Pharma said, "We saw high double-digit growth with robust performance across all our regions, despite a tough operating environment, as we continued investing in our capabilities. Manufacturing and Innovation are our strategic pillars, and we believe the acquisition of capacity from Tevapharm India will provide further fillip to growth. We continue to navigate the challenging environment through our strong execution. Looking ahead, we continue to see growing demand in our OTC segment across the regions, and we are well-positioned to take advantage of these opportunities."
Marksans Pharma is an Indian pharmaceutical company having a global footprint. The company's strengths lie in research, manufacturing and marketing of finished dosage pharmaceutical formulations.
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