Mankind Pharma Q1 results: Profit up 9.9% at Rs 543 cr; revenue rises 12%

Delhi-based pharmaceuticals major Mankind Pharma reported a 9.9 per cent year-on-year (Y-o-Y) rise in consolidated net profit for the June quarter (Q1 FY25) at Rs 543 crore, up from Rs 494 crore reported for the same period last year. Mankind’s revenue from operations rose to Rs 2,893 crore in Q1 FY25, a 12.2 per cent Y-o-Y rise from Rs 2,579 crore reported in Q1 FY24.

At the operating level, the earnings before interest, tax, depreciation, and amortisation (Ebitda) rose to Rs 686 crore in the June quarter as against Rs 660 crore in the same period last fiscal.

On a sequential basis, the company exhibited a 13.9 per cent rise in net profit, while its revenues grew by 18.5 per cent.

 

The company reported that its domestic business witnessed an on-year growth of 8.9 per cent in the June quarter, with domestic revenue rising to Rs 2,634 crore from Rs 2,419 crore reported in Q1 FY24.

The company also posted a secondary sales growth of 10.5 per cent, as opposed to 8.7 per cent growth reported for the Indian Pharma Market (IPM) in the June quarter.

Mankind also announced a rise in its prescriber penetration to 83.2 per cent in Q1 FY25, from 82.7 per cent in the same quarter last financial year.

Highlighting IQVIA numbers, Mankind attributed the growth in secondary sales to be primarily driven by outperformance in chronic therapies, at a rate of 1.3 times the IPM and strong volume growth.

The company’s exports business also witnessed a growth of 62 per cent Y-o-Y in the June quarter, driven by an increase in the company’s base business and new launches.

Commenting on the results, Rajeev Juneja, vice chairman and managing director, Mankind Pharma, said that Mankind is now the second largest pharma company by volume with the increase in market share of 20 basis points (bps) Y-o-Y to 6.1 per cent, according to IQVIA.

“The company is consistently expanding from mass market to specialty chronic, leading to outperformance of 1.3 times the IPM chronic market,” he added.

The company also announced the acquisition of Bharat Serums and Vaccines (BSV) in this quarter, a super-specialty business with a high entry barrier portfolio.

“In this quarter, we also licensed Inclisiran (cardiac) from Novartis, and Vonoprazan (gastro) from Takeda,” the company said in its official statement.