India's Marksans Pharma hits nearly 2 yr high as Q4 profit triples

Marksans Pharma

30/05/2023 10:15

** Shares of Marksans Pharma Ltd  MARK.NS  climb as much as
11.16% to a 21-month high of 84.20 rupees
    ** Pharmaceuticals firm reports net profit that nearly
triples Y/Y to 819.4 mln rupees in March quarter, revenue from
operations up 16% 
    ** Gains in existing store brands, products, normalisation
of freight expenses aided consistent quarterly performance - CEO
Mark Saldanha
    ** Adds recent acquisition of Teva Pharma manufacturing unit
in Goa will accelerate growth
    ** Expect net interest margin (NIM) to be stable at 4.7% in
FY24 and FY25, says Phillip Capital
    ** Adds risk-reward appears favourable at current valuations
    ** Trading volume is 14.40 mln shares as of 2:28 p.m. IST,
more than eight times the 30-day avg  - Refinitiv data
    


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))