Torrent Pharma Net profit Rises 24% To Rs 386 Crore

Torrent Pharmaceuticals Ltd recorded a consolidated net profit of 386 crore for the September quarter, up 24% from the previous year, while revenue increased 16% from 2,291 crore to 2,660 crore. Its earnings before interest, taxes, depreciation and amortization (Ebitda) was at ₹825 crore, with 32% ebitda margin. Net profit margin was at 14.5% for the period. The company’s debt to equity ratio remained flat at 0.66x compared to the year ago in the second quarter of FY24, while cash reserves at the end of the quarter stood at ₹538 crore, as per livemint.

The specialty medicine business recorded 18% increase in its Indian operations in Q2, with revenues of 1,444 crore, up from 1,224 crore the previous year. This expansion can be ascribed to the ongoing double-digit growth in chronic therapies, a comeback in gastro demand, increased activity in the consumer business, and the introduction of new medicines. Its Curatio portfolio increased by 17%, owing mostly to the robust performance of important brands. Operating revenue from its Brazil business increased by 36% to 252 crore in the second quarter of FY24, up from 185 crore the previous year, owing to strong performance of its top brands, product launches, growth in generics, and the positive impact of sales from Q1FY24 spilling over into Q2.

Germany witnessed a substantial 21% increase in revenue, hitting 266 crore. However, revenues from its US business declined 15% year on year to 248 crore from 292 crore. "Growth was impacted by loss of low margin business and the lack of new launches," according to the company. Torrent Pharma stated during its post-results analyst call that it expects double-digit growth for its cancer products.