Breaking News: Mankind Pharma Reports 62% Increase in Net Profit ๐
Exciting news for the crypto enthusiasts! Mankind Pharma just announced a whopping 62% year-on-year jump in net profit to Rs 477 crore in Q4FY24. This significant increase was primarily driven by robust domestic formulation sales and lucrative one-off export opportunities in the US market. Here’s a breakdown of the key highlights from the latest financial report:
Strong Financial Performance ๐
- Net profit surged by 62% YoY to Rs 477 crore in Q4FY24
- Compared to Rs 294 crore in the same period last year
- Revenue from operations soared by 18.9% YoY to Rs 2441 crore
- However, a 6.4% decline was observed on a quarter-on-quarter basis
- EBITDA experienced a robust growth of 41.5% YoY to Rs 594 crore
- The EBITDA margin also increased by 390 basis points YoY to 24.3%
Steady Growth Throughout FY24 ๐
- Revenue from operations for the full financial year rose by 18% to Rs 10,335 crores
- Net profit for FY24 witnessed a 48% increase, reaching Rs 1942 crore
- EBITDA margin for FY24 stood at a healthy 24.7%
- The company maintained a strong net cash balance of Rs 3,260 crore as of March 31, 2024
Domestic Business Gains ๐ฎ๐ณ
- The domestic business segment, which includes branded formulations and consumer healthcare, saw a growth of 10.2% to Rs 2174 crores in Q4FY24
- Consumer health business also registered a growth of 2.6%, reaching Rs 156 crore
- Mankind Pharma secured the fourth position in the Indian pharmaceutical market with a 4.5% share in Q4FY24
Thriving Exports Segment ๐
- Exports business experienced a remarkable growth of 230% YoY to Rs 267 crore in Q4FY24
- This growth was driven by specific one-off opportunities in the lucrative US market
- Mankind Pharma launched 4 new products in the US during the quarter, bringing the total launched products to 39 as of March 2024
Hot Take: What’s Next for Mankind Pharma? ๐ฎ
As Mankind Pharma continues to expand its footprint in both domestic and international markets, the future looks promising for the pharmaceutical giant. With a solid financial performance in Q4FY24 and throughout the full fiscal year, the company is well-positioned to capitalize on emerging opportunities and maintain its growth trajectory in the competitive landscape. Stay tuned for more updates on Mankind Pharma’s journey ahead!
Cindy Dutta emerges as a polymath of the crypto realm, seamlessly blending the roles of analyst, researcher, and editorial virtuoso. Navigating the intricate labyrinth of cryptocurrencies, Cindy unfurls intricate patterns of digital assets, resonating harmoniously with minds of all kinds. Her knack for unraveling enigmatic crypto intricacies intertwines effortlessly with her editorial finesse, transmuting complexity into an immersive symphony of comprehension. A guiding star for both seasoned explorers and neophytes treading the cryptic waters, Cindy’s insights forge a compass for informed decision-making amidst the ever-shifting currents of digital finance. With the precision of a craftsman, they craft a narrative that enriches the evolving mosaic of the crypto landscape.
