India's Marksans Pharma hits record high after Q2 profit jump

Marksans Pharma

09/11/2023 09:22

** Shares of Marksans Pharma  MARK.NS  rise as much as 10.5%
to hit a record high of 128.50 rupees
    ** Stock marks sharpest intraday pct gain since July 26
    ** The drugmaker reported a 36.3% Y/Y rise in Q2
consolidated net profit while rev from ops rose 17.3% Y/Y
    ** EBITDA in Q2 grew by 41.9% with an EBITDA margin of 21.4%
    ** Operating margins expanded, compared with prior year, and
sequentially led by reduced raw material pricing and freight
cost, said MD and CEO Mark Saldanha
    ** Stock is witnessing its most active trading session since
July 12, with more than 14.3 mln shares change hands, 8x of
30-day avg
    ** Marksans stock up ~120% YTD



 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))