Indian drugmaker Mankind Pharma (MNKI) reported a rise of more than 39 percent in second-quarter profit, helped by strong demand for chronic therapies including diabetes and cardiac treatments.
Consolidated net profit rose to 7.11bn rupees ($74.7mn) for the quarter ended September 30, from 5.12bn rupees a year earlier.
Domestic revenue, excluding the consumer healthcare business, climbed 16 percent to 34.28bn rupees, led by 19 percent growth in its cardiac segment and a 16 percent increase in anti-diabetes products. Overall revenue grew 17.3 percent to 43.38bn rupees.
Mankind and peers such as Torrent Pharma (TORP.NS) have continued to benefit from robust demand for treatments for diabetes and cardiovascular conditions, which has underpinned steady growth in the domestic formulations business.
The company makes prescription medicines across chronic and acute therapies, as well as consumer healthcare products including Manforce condoms, Prega News pregnancy test kits and Gas-O-Fast antacid tablets.
Last week, Torrent reported a near 10 percent fall in quarterly profit as research and development costs outweighed strong domestic demand.