India's Mankind Pharma near 3-month low as Q3 profit misses view

Mankind Pharma

24/01/2025 07:31

Jan 24 - ** Shares of India's Mankind Pharma  MNKI.NS 
fall 2.2% to 2,487.15 rupees, their lowest level in nearly three
months
    ** Co reported lower-than-expected Q3 profit on Thursday due
to a sharp rise in expenses
    ** Estimates missed due to higher interest outgo in the
quarter, says Motilal Oswal
    ** Adds, weakness in acute therapy segment led to co's
underperformance over Indian pharma market (IPM) sales growth in
Dec. quarter
    ** MNKI says the $1.6-billion acquisition of Bharat Serums
and Vaccines also led to rise in costs and hurt quarterly
results
    ** Analysts' average rating on stock at "buy", median PT is
2,852.50 rupees
    ** Stock down 8.5% so far in January, on track for biggest
monthly decline since May 2024
    ** Pharma index  .NIPHARM  has lost 6.2% in January so far

 (Reporting by Vivek Kumar M)
 ((VivekKumar.M@thomsonreuters.com))