Marksans Pharma share edged 13 per cent higher in opening deals today, August 14, 2024, after the company posted strong numbers for the April-June quarter of FY25. The stock was at ₹202.18 on the NSE at 11:54 AM, near its intraday high of ₹213. Its stellar earnings report saw a sharp rise in trading volume as well, with 87 lakh shares changing hands, against a one-month daily average of 23 lakh shares.
For FY22, the net profit of the pharmaceutical company witnessed year-on-year growth of over 26 percent at ₹89.1 crore from ₹70.4 crore in the same period a year ago. The revenue was up 18 percent at ₹590.6 crores, riding on the company’s new launches and increased market share with existing customers. This growth was further supported by enhanced gross margins and operational efficiencies translating into an expansion in the EBITDA margin to 21.7 percent compared to 20.4 percent a year back.
On a regional basis, the growth was led by the US and North America, which were up 30%, followed by Australia and New Zealand, up 13%, and the UK and Europe, up 11%. Other global markets saw sales rise by 2%. The company thus expects further growth in the coming quarters, especially from the US, where demand for cough and cold medications usually picks up in the second half of a calendar year, aided by new product launches and shipments from its new facility.
Marksans Pharma is quite optimistic about growth prospects in the near future across all its markets, driven by stable demand and new products.
Do you have a news tip for Lakshmishree reporters? Please email us at media@lakshmishree.com
Source: Moneycontrol
News Desk
