Torrent Pharma net profit up 18 percent at Rs 297 crore in Q3
New Delhi: Drug firm Torrent Pharmaceuticals on Monday reported an 18.32 per cent rise in its consolidated net profit to Rs 297 crore for the quarter ended in December.
The company had posted a net profit of Rs 251 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to BSE.
Consolidated revenue of the company stood at Rs 1,995 crore for the quarter under consideration. It was Rs 1,966 crore for the same period a year ago, it added.
India revenues for the third quarter ended December 2020 was at Rs 930 crore, a growth of 7 per cent. Growth was driven by market recovery, continued momentum in chronic brands and strong recovery in sub-chronic brands, Torrent Pharma said.
US revenues at Rs 292 crore, were down by 24 per cent. Sales were impacted by price erosion on base business and base impact of Sartan portfolio discontinuation, it added.
Read also: Zydus Cadila net profit rises 41 percent to Rs 527 crore in Q3
Brazil revenues at Rs 173 crore, were down 8 per cent for the quarter under consideration. Germany revenues were up 21 per cent to Rs 265 crore for the quarter under consideration, the filing said.
The board of the company has approved an interim dividend of Rs 20 per equity share of Rs 5 fully paid up, it added.
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.