Mankind Pharma Reports Mixed Financial Performance Amid Strategic Moves
Mankind Pharma announced a 17% decline in profit after tax for the June quarter, amounting to Rs 445 crore, compared to Rs 538 crore last year. Despite this, revenue surged to Rs 3,570 crore. The company plans to raise up to Rs 1,000 crore through unsecured funding and intends to acquire Bharat Serums' women health portfolio.
- Country:
- India
Mankind Pharma reported a 17% drop in consolidated profit after tax, totaling Rs 445 crore for the June quarter. In the same period last year, it posted Rs 538 crore.
Despite the decline in profit, the company's revenue from operations rose significantly, reaching Rs 3,570 crore, up from Rs 2,868 crore a year earlier. Mankind Pharma attributed this rise to strategic business improvements.
The board has sanctioned raising up to Rs 1,000 crore through unsecured funding instruments, and approved acquiring Bharat Serums' women health portfolio. The company's shares fell slightly by 0.28% to Rs 2,567.75 on the BSE following these announcements.
(With inputs from agencies.)
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