Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter surged 43% YoY to Rs 660 crore, with margins expanding by a staggering 450 basis points to 25.6%.
“Our strategic initiatives across the businesses are delivering positive results, and we are hopeful that we will continue to outperform industry growth, going ahead,” said Rajeev Juneja, vice-chairman and managing director.
The company’s pharmaceutical business outperformed the industry by 1.5x, on volume-led growth and highest-ever chronic share.
The domestic business reported robust 14% YoY growth in the quarter. The secondary sales saw an impressive growth of 12.5%, thereby outperforming the industry by 1.5 times. The company registered volume growth of 4.3%, compared to the industry growth of 1.4%.
The chronic segment reported 17% growth, also outperforming the industry’s 10% growth in the quarter. The chronic business share in the total sales increased to 36% in the June quarter, from 34% a year ago, and 35% a quarter ago.
The consumer healthcare segment maintained dominant brand leadership in the respective categories. The segment witnessed a growth of 8% YoY and 36% sequentially. Not only domestic, but even the exports business did well for the company. Exports business saw a growth of 214% YoY, aided by certain one-off opportunities in the US, the company said.
The company remains focussed on differentiated filings, including in-licensing for key markets. The new integrated bulk drugs and formulation manufacturing plant is expected to be commercialised by September. The company is exploring exports of Dydrogesterone to key markets.
Dydrogesterone is a progestogen, used to treat progesterone deficiency or irregular periods in women, and other symptoms due to increased activity of estrogen.
Ahead of the earnings, shares of Mankind Pharma closed nearly 2% down at Rs 1,739.80 on the National Stock Exchange.
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