Torrent Pharma posts 14 pc growth in Q3 net profit
Jan 26, 2023
Ahmedabad (Gujarat) [India], January 26 : Torrent Pharma has posted a 14 per cent growth in its net profit to Rs 283 crore for the quarter ended December, against Rs 249 crore in the year-ago period.
Revenues were up 18 per cent at Rs 2,491 crore, against Rs 2,108 crore in the corresponding quarter the previous year. The pharma firm's gross profit went up 20 per cent to Rs 1,761 crore from Rs 1,470 crore in the corresponding period of the last fiscal.
The operating earnings before interest, taxes, depreciation, and amortisation (Ebitda) rose 35 per cent to Rs 724 crore, according to a statement shared with exchanges on Wednesday evening.
Its India's revenues grew 17 per cent to Rs 1,259 crore which included revenue from the integration of Curatio Healthcare.
The company said Brazil's revenues rose 36 per cent to Rs 248 crore whereas the Germany business' revenue was at Rs 241 crore, a surge of 1 per cent. Its US revenues grew 24 per cent to Rs 291 crore.
Torrent Pharma, with its annual revenue of more than Rs 8,500 crore, is the flagship company of the Torrent Group, with group revenue of more than Rs 22,500 crore, the firm said.
It is a speciality-focused company with 75 per cent of its revenue in India from chronic and sub-chronic therapies, according to the statement. The company statement said it has its presence in 40 countries and is ranked No. 1 amongst the Indian pharma companies in Brazil, Germany and the Philippines. Torrent has seven manufacturing facilities, of which four are US Food and Drugs Administration (FDA) approved, the company said.
