Torrent Pharma reports 24 per cent jump in Q2 net profit
Ahmedabad: Torrent Pharma has reported a 24 per cent jump in its second-quarter net profit after a surge in revenue from India, Brazil and German operations offset a decline in the US.
Its net profit in July-September at Rs 386 crore was 23.7 per cent higher than Rs 312 crore net earning in the same period a year back, the company said in a statement.
Revenues soared 16 per cent to Rs 2,660 crore. Its India revenue was up 18 per cent at Rs 1,444 crore while earnings from German operation was up 21 per cent and that from Brazil soared by 36 per cent. This offset a 15 per cent decline in US revenues.
Giving a break-up, Torrent said in India, "Market outperformance was led by continued double-digit growth in chronic therapies, revival in gastro demand, traction in the consumer division, and new launches".
Curatio’s portfolio grew by 17 per cent, led by strong growth in top focus brands. In Brazil, growth was aided by the performance of top brands, new launches and growth in the generic segment. The growth momentum in Germany continues with new tender wins coupled with better conversion of existing tenders. The growth in US revenues, it said, "was impacted by loss of low margin business and lack of new launches"
Read also: Torrent Pharma in discussions with Apollo to borrow up to USD 1 billion for Cipla bid: Sources
Torrent Pharma is an Indian multinational pharmaceutical company headquartered in Ahmedabad, India. The company specializes in therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastro-intestinal (GI) and women healthcare (WHC).
Read also: Torrent Pharma net profit rises 7 percent at Rs 378 crore in Q1
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.