Torrent Pharma Jumps After Good Q1 Numbers

Torrent Pharmaceuticals was up 6.17% to Rs 1559.15 at 12:22 IST on the BSE after the company’s consolidated net profit rose 32.5% to Rs 216 crore on 7.7% increase in net sales to Rs 1976 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after trading hours yesterday, 23 July 2019.

On the BSE, 93,000 shares were traded in the counter so far compared with average daily volumes of 44,000 shares in the past two weeks. The stock had hit a high of Rs 1563.45 and a low of Rs 1485.05 so far during the day. It hit a 52-week high of Rs 1964 on 29 March 2019 and a 52-week low of Rs 1432 on 24 July 2018.

Torrent Pharmaceuticals said that its revenues from India business rose by 9% to Rs 907 crore in Q1 June 2019 over Q1 June 2018. Its revenues from US business rose by 13% to Rs 376 crore in the same period.

EBITDA grew by 11% to Rs 558 crore in Q1 June 2019 over Q1 June 2018. and EBITDA margin stood at 28%.

The company’s R&D spend rose by 6.25% to Rs 136 crore in Q1 June 2019 against Rs 128 crore in Q1 June 2018.

It said that 3 abbreviated new drug applications (ANDAs) were filed during the quarter. As on 30 June 2019, 34 ANDAs are pending approval and 11 tentative approvals have been received. – Business Standard