Shares of this recently listed Pharma stock under the ‘large-cap’ category were on the rise in Thursday’s trading session after the company announced financial results for Q1FY23-24. The stock is trading near its all-time high level.
With a market capitalization of Rs 74,500 crores, the shares of Mankind Pharma Limited started their trading session at Rs 1,900 and currently trade at Rs 1,858. The company’s scrip witnessed an intra-day high of Rs 1,913.75, a gain of around 10 percent compared to the previous close of Rs 1,739.80 apiece.
The stock prices of the company soared after the company, in a filing with the Bombay Stock Exchange dated 2nd August 2023, announced the financial results for the quarter ending June 2023.
The company’s financial performance, on a quarterly basis, has been successful in improving the operating revenues as well as net profit numbers with the former increasing from Rs 2,052 crores during Q4FY22-23 to Rs 2,578 crores during Q1FY23-24, and, the net profits, rose from Rs 294 crores to Rs 494 crores representing an increase of 68 percent.
Comparing the June 2023 quarter with the same period last year, the company has reported an increase in the metrics discussed above with the operating revenues shifting from Rs 2,180 crores to Rs 2,578 crores, and, the net profits taking a shift from Rs 298 crores to Rs 494 crores.
As per the shareholding pattern data released for the June 2023 quarter, the company’s Promoters hold a 76.5 percent stake, and, the Foreign Institutional Investors (FIIs) hold a 4.18 percent stake in the company.
Mankind Pharma Limited is involved in the business of developing, manufacturing, as well as marketing pharmaceutical formulations across chronic and acute therapeutic areas. The company also deals with several consumer healthcare products. Some of the company’s brand names include Gas-O-Fast, Prega News, and many more.
Written by Amit Madnani
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