Indian pharmaceutical sector has been in the doldrums recently with Nifty Pharma tumbling about 10.7 percent so far in 2019. The sector has been in the news for regulatory and pricing issues.
However, analysts are hopeful that the domestic market will lead them out of woods. A glimpse of that was seen when Torrent Pharmaceuticals announced its earnings for the quarter ended June 2019.
The company on July 23 reported a 32.51 percent rise in its consolidated net profit to Rs 216 crore for Q1FY20, primarily driven by robust growth and margin performance in the domestic market.
Torrent’s Indian business grew 9 percent YoY to Rs 907 crore, while the US revenue stood at Rs 376 crore, up 13 percent from the year-ago period.