Torrent Pharmaceuticals Ltd (TPL) has reported an increase of 18 per cent in revenues and 31 per cent in net profit in the second quarter of 2011-12, ended September 30, 2011, as compared to the corresponding quarter in the previous fiscal year.
According to the company's results, while the revenues were Rs 683 crore (Rs 582 crore), net profit stood at Rs 100 crore (Rs 76 crore). On Wednesday, TPL's share price at the BSE closed 1.17 per cent up at Rs 577.90.
During Q2, domestic formulation business recorded a growth of 7 per cent mainly due to a relatively low performance in the acute therapy segment. International revenues grew by 32 per cent.
Operations in Brazil posted growth of 34 per cent while the Germany-based Heumann registered 28 per cent growth in revenues. Revenues from the US operations grew by 57 per cent while business from Europe (other than Heumann), Russia & CIS and rest of the world recorded a growth of 20 per cent.
Investments in product development are being made to support the build-up of the US, Europe and Brazil operations. The total revenue expenditure on R&D was 4.6 per cent of Q2 2011-12 consolidated net sales and operating income, the company said.
TPL, with an annual turnover of over Rs 2,200 crore, is the flagship company of the Ahmedabad-based Torrent Group.