Mankind Pharma's Revenue Growth Defies Profit Decline

Mankind Pharma reported a 16.5% decrease in consolidated net profit for Q3 2024, despite a 24% increase in revenue. The company has recently acquired Bharat Serums and Vaccines, which contributed to growth in chronic and OTC sectors. Mankind shares rose by 4.68% on the BSE.

Mankind Pharma has witnessed a 16.5% decline in its consolidated net profit, bringing it to Rs 384 crore for the third quarter ending December 2024, compared to Rs 460 crore during the same period last year.

However, the company achieved a notable 24% increase in revenue to Rs 3,230 crore from Rs 2,607 crore. This growth is attributed to robust performance in the chronic segment and the successful integration of Bharat Serums and Vaccines, an acquisition valued at Rs 13,768 crore.

Despite a year-on-year decline in profit, Mankind Pharma's domestic business surged by 15.5% to Rs 2,773 crore, while consumer healthcare and export sectors also reported significant increases. On the BSE, Mankind shares ended 4.68% higher, reaching Rs 2,632.70 each.

(With inputs from agencies.)