Torrent Pharma Q3 net up 26%

Torrent Pharmaceuticals Limited announced standalone net profit for the quarter ended December 2020 at ₹278 crore as against ₹220 crore in the corresponding quarter a year ago, indicating a rise of 26 per cent. Company’s standalone revenues from operations for the quarter stood at ₹1,616 crore as against ₹1,471 crore in the same period last year.

On consolidated basis, net profit for the quarter stood at ₹297 crore as against ₹251 crore in the corresponding quarter a year ago. Consolidated revenues from operations were ₹1,995 crore for the quarter as against ₹1,966 crore in the same period last year. Company’s operating EBITDA increased by 12 per cent during the quarter at ₹607 crore.

India growth factors

The Board of Directors of the company, after its meeting held on Monday, announced interim dividend of ₹20 or 400 per cent for each equity shares of ₹5 each. The company’s India business during the quarter October-December grew by 7 per cent to ₹930 crore. The growth was aided by market recovery, continued momentum in chronic brands and strong recovery in sub-chronic brands, the company statement said.

In the US market, revenues during the quarter fell 24 per cent at ₹292 crore. The sales in Brazil fell 8 per cent on-year to ₹173 crore. However, revenues from Germany market rose by 21 per cent to ₹265 crore. Company’s shares ended 0.21 per cent up at ₹2,757.95 on NSE Monday.