Companies

Torrent Pharma standalone Q2 net up 15%

Our Bureau Ahmedabad | Updated on October 27, 2021

The company’s standalone revenue from operations increased to ₹1,799 crore for the quarter

Torrent Pharmaceuticals Limited posted a standalone net profit of ₹326 crore for the second quarter ended September 30, 2021, indicating 15-per cent jump over a year-ago period.

The company’s standalone revenue from operations increased to ₹1,799 crore for the quarter as against ₹1,640 crore in the same quarter last year.

On a consolidated basis, the company posted net profit of ₹316 crore for the quarter, about 2 per cent up from ₹310 crore in the corresponding quarter last year. Consolidated revenue from operations stood at ₹2,137 crore for the quarter as against ₹2,017 crore in the same period last year.

Consolidated EBITDA for the quarter was ₹711 crore, up 11 per cent from ₹641 crore in the same quarter last year.

In the overseas business, the company’s US revenue fell by 13 per cent. “Sales were lower due to price erosion in the base business and lack of new approvals, pending facility re-inspection,” the company informed in a statement.

Revenue from Germany was down by 4 per cent over the same period last year as growth during the quarter was impacted due to Covid induced supply delays and inventory normalisation led by customer consolidation at the marketplace, the company said.

In Brazil, the company posted 21 per cent growth in revenue, primarily driven by momentum in the large brands combined with the strong launch of two new products.

India revenue grew by 13 per cent and company has reportedly outperformed the market in all its key therapies during the quarter.

Torrent Pharmaceuticals shares fell over 3 per cent to ₹2,848 on BSE during Wednesday trades.

Published on October 27, 2021

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