Mankind Pharma Ltd. shares fell more than 5% on Friday even after the drugmaker reporting higher June-quarter profit and revenue, with net profit rising 29% year-on-year and revenue crossing the Rs 4,000 crore mark.
The stock is trading at Rs 2,452.7 apiece on the NSE at around 9:58 am, down from its previous close of Rs 2,575.9 after ending Thursday's session 0.88% lower.
Net Profit up 29%, Margin Expansion Supports Earnings
Mankind Pharma reported a consolidated net profit of Rs 574.09 crore for the June quarter, compared with Rs 444.62 crore a year ago. Revenue from operations came in at Rs 4,031 crore, up 12.9% year-on-year.
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The company's operating performance also improved during the quarter, with Ebitda increasing 24.9% year-on-year to Rs 1,057 crore from Rs 846 crore in the year-ago period. Even the Ebitda margin expanded to 26.2% in the June quarter from 23.7% a year earlier, reflecting stronger operating profitability.
The improvement in margins helped support the double-digit growth in profit despite a relatively moderate rise in revenue.
Stock Under Pressure
The stock has remained under pressure for a month now, losing over 3.7% during the period.
In the past 52 weeks, the stock traded between Rs 1,909.7 and Rs 2674 apiece on NSE and is currently trading at a price-to-earnings multiple of 51.8 times.
Also Read: Mankind Pharma Q1 Results: Profit Rises 29%, Revenue Crosses Rs 4,000 Crore
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