Mankind Pharma Q4 results
The country's fourth-largest pharmaceutical company by domestic sales reported a 50 per cent year-on-year (YOY) rise in Q4 profit helped by lower input costs. Manforce condom maker's net profit climbed to Rs 28,543.86 against Rs 19,007.91 logged in the year-ago period, in the first earnings as a listed company. Topline revenue from operations of the company, which also makes acute and chronic therapeutics including anti-infectives, respiratory and anti-diabetics stood at Rs 205,266.7, a rise of around 19 per cent from Rs 172,576.11 logged a year ago. Input costs for the pharma company fell 23.4 per cent.
Mankind Pharma share price target
Global brokerage firm Macquarie has maintained an outperform on the counter with a target price of Rs 1,400 post Q4 announcement.
Mankind Pharma made an impressive debut at the bourses on May 9. The stock was listed at a 20 per cent premium to the issue price of Rs 1,080, and it settled the session with over a 30 per cent premium.
