Torrent Pharma net up 7 per cent to Rs 354 crore in Q1

Ahmedabad, July 30: Torrent Pharmaceuticals Ltd reported 7 per cent growth in consolidated net profit at Rs 354 crore for the quarter ended June 30, 2022 from Rs 330 crore in the same quarter a year ago.

The company’s consolidated revenue from operations stood at Rs 2,347 crore, up 10 per cent (Rs 2,134 crore) year-on-year.

Total expenses for the quarter rose 9 per cent to Rs 1,845 crore, from Rs 1,690 crore in the same quarter a year ago.

Quarterly EBITDA stood at Rs 742 crore, up 3 per cent year-on-year.

India’s business grew 14 per cent with revenue of Rs 1,245 crore during the quarter.

“The strong performance of top brands with new launches continued to gain market share in Focus Therapy,” the company said in a statement after announcing the financial results on Friday.

In the international markets, the company’s Brazil revenue grew by 20 per cent to Rs 184 crore. Strong growth in the generic segment, performance from top brands and new launches supported the growth.

The German and US businesses grew 18 per cent and 13 per cent with revenues of Rs 214 crore and Rs 299 crore, respectively. In the US markets, revenue was complemented by the performance of Dapsone, which was launched last quarter. However, growth in Germany was adversely affected by increased competition and the loss of tenders in previous quarters. “Torrent has already initiated measures to improve price competitiveness,” the company said.

Shares of Torrent Pharmaceuticals closed 1.75 per cent higher at Rs 1,528.80 on the BSE on Friday.

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30 July 2022