- Date : 01/06/2023
- Read: 3 mins
After a strong financial quarter, Mankind Pharma reports a 52% jump in its profits while revenue grows by a modest 19%. Check out the other financial metrics reported by the company in its quarterly results.
As the financial year ended on 31st March 2023, companies started preparing their financial results for the last quarter. As the reporting concludes, companies are publishing their financial results and Mankind Pharma was the latest to do so.
A leading pharmaceutical company, Mankind Pharma showed impressive performance in the last quarter of the financial year as its revenue and profits grew. The company’s popular brands and products, dominating a larger market share, were the major players in the company’s growth story. Have a look at how the company performed in the January-February-March 2023 quarter.
Mankind Pharma financial results
Here are the highlights of Mankind Pharma’s quarterly results –
1. Revenue
The company reported a 19% YoY (Year-on-Year) growth in its revenue which stood at Rs.2053 crores after the March 2023 quarter compared to Rs.1726 crores reported in the Jan-Feb-March 2022 quarter.
The revenue from the domestic business of the company also grew 18% YoY and contributed 97% to the overall revenue growth. Interestingly, Mankind Pharma’s domestic business is the core business of the company which has a limited exposure in international markets.
Coming to exports, the revenue grew by 63% annually and was reported at Rs.81 crores.
2. Margins
The operating profit margin of Mankind Pharma grew to 20.4% reporting a jump of 3.6% YoY. The operating profit was reported at Rs.419 crores after a growth of 45% YoY.
3. Net profit
The net profit is the profit after paying off depreciation, interest and taxes. Mankind Pharma reported a net profit of Rs.294 crores after a jump of 52% YoY from the previous amount of Rs.193 crores.
Other news about mankind Pharma
The Mankind Pharma scrip has had a roller-coaster ride ever since its listing. As the Income Tax Department conducted a raid on the company’s premises, market sentiments turned negative. This caused the share price to tumble by almost 3.5%.
The company, however, did not declare any dividends for its shareholders despite the growth in its profits.
Also, read - IT and healthcare did not perform well in 2022. Read on to know about their potential in 2023
The bottom line
Mankind Pharma is a reputed name in the pharmaceutical sector with a diverse product portfolio. Analysts believe that the company is poised for growth and maintain a ‘Buy’ rating on the company’s scrip. The target price is expected to be Rs.1400.
As an investor, you can buy Mankind Pharma’s stock for portfolio diversification and to bank on its growth potential. Though the company has not declared any dividend recently, you can get capital appreciation on your investment if you invest with a long-term horizon.
So, assess your risk appetite and investment needs and then take a call on Mankind Pharma.
Also, read - Read more about Mankind Pharma's IPO price band when it launched its IPO
Watch this video to know the share price target that experts have given Mankind Pharma
Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.
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