New Delhi: Mankind Pharma on Tuesday reported a 30% year-on-year rise in fourth-quarter profit, driven by strong demand for chronic therapies and consumer healthcare products. The drugmaker’s consolidated net profit from continuing operations rose to ₹554 crore for the quarter ended March 31, compared with ₹425 crore a year earlier. Revenue from operations increased nearly 12% to ₹3,443 crore.
Brokerage Motilal Oswal said Mankind Pharma’s domestic formulations business is in a “revival mode”, with March growth of 11.5%, ahead of the Indian pharmaceutical market‘s 10.6% growth. The momentum was led by chronic therapies such as cardiac and anti-diabetes treatments.
The brokerage added that the company’s recovery was aided by improved sales execution following a reorganisation of its field sales team. It also noted that Mankind’s acquisition of Bharat Serums and Vaccines has moved beyond initial integration challenges and is now delivering stronger growth.
The results come amid a mixed earnings season for Indian drugmakers.