Ahmedabad, Jul 30: Torrent Pharmaceuticals Ltd recorded a 7 per cent increase in consolidated net profit at Rs 354 crore for the quarter ended June 30, 2022 as against Rs 330 crore in the same quarter a year ago.
The company's consolidated revenues from operations stood at Rs 2,347 crore, up 10 per cent year-on-year (Rs 2,134 crore).
Total expenses for the quarter increased by 9 per cent to Rs 1,845 crore, as against Rs 1,690 crore in the corresponding quarter a year ago.
Quarterly EBITDA stood at Rs 742 crore, up 3 per cent year-on-year.
The India business grew by 14 per cent with revenues at Rs 1,245 crore during the quarter.
"Strong outperformance of top brands together with new launches continued to drive market share gains across focus therapies," the company said in a statement after the announcement of financial results on Friday.
In the international markets, the company's Brazil revenues grew fastest at 20 per cent to Rs 184 crore. The growth was aided by strong growth in the generic segment, performance of top brands and new launches.
The German and US businesses grew by 18 per cent and 13 per cent, with revenues at Rs 214 crore and Rs 299 crore, respectively. In the US markets, revenue was complemented by the performance of Dapsone launched in the previous quarter. However, growth was adversely impacted in Germany due to an increase in competition and loss of tenders in previous quarters. "Torrent has already initiated measures to improve price competitiveness," it added.
Torrent Pharmaceuticals shares gained by 1.75 per cent on Friday to end at Rs 1,528.80 on BSE.