The Hindu Business Line : Torrent Pharma full year net rises 44%

Ahmedabad, May 7 The Ahmedabad-based Torrent Pharmaceuticals Ltd has announced a 44 per cent increase in its net profit for the fiscal 2007-08 as new products were introduced. Its consolidated sales stood at Rs 1,336 crore, up three per cent from Rs 1,292 crore during the previous year.

The company said the sales growth was weighed by a degrowth in the Heumann business (Germany) due to severe price erosion and shift of volumes to segments in which the company was not present. Excluding Heumann, consolidated revenues grew by 11 per cent.

Consolidated operating profits (PBDIT) were 30 per cent higher at Rs 203 crore. Consolidated net profit for the year was up 44 per cent at Rs 135 crore against Rs 94 crore during the previous year due to lower tax charge for the current year.

For the quarter ended March 2008, the consolidated sales were 5 per cent lower at Rs 320 crore from Rs 337 crore in the same period last year. Excluding Heumann, the sales went up by 4 per cent. Consolidated net profit for the quarter was up 52 per cent at Rs 44 crore against Rs 29 crore in the same quarter last year.

Domestic formulation business clocked sales of Rs 587 crore against Rs 557 crore during the previous year, registering a 6 per cent growth. The Brazil operations grew 6 per cent with sales of Rs 177 crore from Rs 167 crore last year.

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