Mankind Pharma reported a stellar performance in its quarterly report for the April-June quarter of the current fiscal year. The drugmaker reported a 66.4% increase in net profit to Rs 486.9 crore against the Rs 292.60 crore reported in the year-ago quarter.

The Delhi headquartered drug maker’s revenue from operation rose by 18% YoY to Rs 2,579 crore.

The EBITDA (earnings before interest, tax, depreciation and amortisation) increased by 40% YoY to Rs 660 crore in the June quarter for the FY24, while EBITDA margins expanded 450 basis points YoY to 25.60%.

The company has kicked off this financial year on a healthy note, with strong double-digit growth in sales and profitability.

Rajeev Juneja, Vice Chairman & Managing Director, said, “The pharma segment outperformed the IPM (Indian pharma market) by 1.5 times, driven by volume-led growth and highest-ever chronic share,”

The domestic segment of the business reported a 14% annual growth, whereas the company recorded a 4.3% volume growth.

The strong growth in the domestic market was driven by a strong run-up in sales within the chronic segment that grew by 17% annually.

The company’s exports also jumped by 214%, supported by some one-off opportunities in the US.

The company’s shares rallied by 9% in the early trade on August 3.

At 10:30 am, the shares of Mankind Pharma were trading at Rs 1,885 or 8.35% above its previous close of Rs 1,739.80 on NSE.