Torrent Pharma Q3 Net Profit Rises 57% to rs 443 crore

Torrent Pharmaceuticals reported a roughly 57% increase in third-quarter profit, driven by robust demand in the home market, Germany, and Brazil. The drugmaker's overall net profit for the quarter ended December 31 was ₹443 crore, up from ₹283 crore the previous year. The profit number was significantly better than the source's estimate of ₹363 crore.

Revenue from operations rose 9.7% to ₹2,732 crore, as sales rose 12% in India and 26% in Brazil. The same was ₹2,491 crore in the corresponding period of last year. Margins on earnings before interest, taxes, depreciation, and amortization (EBITDA) expanded 270 basis points to 31.8% from 29.1% a year earlier, as per cnbctv18.

In India, revenues increased by 12% to ₹1,415 crore. According to AIOCD secondary market data, the Indian pharmaceutical market (IPM) grew by 9% during the quarter.Torrent has outpaced the market in all focus areas, supported by strong new launch success.

Brazil's revenues increased by 26%, reaching ₹312 crore. Constant currency revenues were R$ 185 million, up 17%.

According to IQVIA, market growth for the quarter was 6.5%. Growth was boosted by four releases in 2022 and three launches in 2023, as well as top brand performance and generic business growth.

The Board of Torrent Pharmaceuticals has declared an interim dividend of ₹22 (440%) per equity share of ₹5 fully paid up. The dividend is planned to be paid on February 23, 2024.

The Indian firm recently announced that Sudhir Mehta will stand away from the board of directors on April 1, 2024.