Torrent Pharma Net Profit Up 33% To Rs 216 Cr In June Quarter

Drug firm Torrent Pharmaceuticals on July 23  reported a 32.51 per cent rise in its consolidated net profit to Rs 216 crore for the quarter ended June 30, mainly on account of robust sales in most geographies.

The company had posted a net profit of Rs 163 crore for the corresponding period of the previous financial year, Torrent Pharmaceuticals said in a filing to the BSE.

Its consolidated revenue from operations stood at Rs 2,022 crore for the quarter, compared with Rs 1,872 crore for the corresponding period a year ago.

The firm’s India business was up nine per cent year-on-year to Rs 907 crore for the quarter. The US revenues at Rs 376 crore were up by 13 per cent from the year-ago period, Torrent Pharma said.

While revenues from Germany at Rs 262 crore also showed 4 per cent growth from the corresponding quarter of the previous fiscal, the business in Brazil saw revenue for the quarter under consideration down by 3 per cent on a year-on-year basis to Rs 174 crore, it added.

In a separate filing, the company said its board has approved the appointment of Jinesh Shah as an additional director till the next annual general meeting and also whole-time director, designated as director (operations) for 5 years with effect from Aug 1, 2019.

Shares of Torrent Pharmaceuticals on Tuesday closed at Rs 1,468.60 per scrip on the BSE, down 2.11 per cent from its previous close. – Moneycontrol