Marksans Pharma Ltd. posted Q2 FY24 operating revenue of Rs. 486 crore, up by 16.3% YoY driven by market share gains in the existing products and markets. Gross profit was Rs. 242.1 crore, up by 17.3% YoY with a Gross margin of 49.8%. ▪ EBITDA was Rs. 109.5 crore, grew by 72.1% with an EBITDA margin of 22.5%. US business grew by +12.8% YoY and UK and Europe grew by 33.1% YoY. The company posted Q2 FY24 consolidated PAT at Rs. 82.7 crore.

Mark Saldanha, Managing Director, Marksans Pharma, said: “Building on the momentum, we have another strong quarter both in terms of revenue and operating margins. Revenue grew by 17% YoY in Q2 led by increased demand and market share gains across our key regions. We continue to remain focused on strengthening our OTC portfolio and growing our share with existing customers. Operating margins expanded compared to the prior year and sequentially led by reduced raw material pricing and freight cost, along with operational efficiencies. Our strategic initiatives are aimed at growth, and we will strive to maintain and build upon this upward trajectory in the upcoming quarters.”