Torrent Pharma Q2 Profit Up 17% to Rs 453 Cr
Torrent Pharmaceuticals reported a 17% rise in consolidated profit after tax to Rs 453 crore in Q2 FY24, driven by strong domestic sales. Revenue also increased to Rs 2,889 crore.
New Delhi, Oct 25 (PTI) Torrent Pharmaceuticals on Friday said its consolidated profit after tax rose 17 per cent to Rs 453 crore in the September quarter, led by robust sales in the domestic market.
The drug firm had reported a Profit After Tax (PAT) of Rs 386 crore in the July-September period of the last fiscal.
During the period under review, revenues rose to Rs 2,889 crore compared to Rs 2,660 crore in the year-ago period, Torrent Pharmaceuticals said in a regulatory filing.
The company said its India revenues increased 13 per cent to Rs 1,632 crore, led by outperformance in focus therapies, it added.
The drug maker also recorded robust sales growth across markets like Brazil, Germany and the US in the September quarter.
Torrent said its insulin revenues were impacted in the second quarter due to a scheduled shutdown taken in August for maintenance activities.
The facility will be released for manufacturing in December, it added.
"Shortfall is significantly planned to be recovered in Quarter 4 of this year and consequently, there will not be any impact on a full-year basis," it said.
Shares of the drug firm ended 3.63 per cent higher at Rs 3,437.65 apiece on the BSE.
The drug firm had reported a Profit After Tax (PAT) of Rs 386 crore in the July-September period of the last fiscal.
During the period under review, revenues rose to Rs 2,889 crore compared to Rs 2,660 crore in the year-ago period, Torrent Pharmaceuticals said in a regulatory filing.
The company said its India revenues increased 13 per cent to Rs 1,632 crore, led by outperformance in focus therapies, it added.
The drug maker also recorded robust sales growth across markets like Brazil, Germany and the US in the September quarter.
Torrent said its insulin revenues were impacted in the second quarter due to a scheduled shutdown taken in August for maintenance activities.
The facility will be released for manufacturing in December, it added.
"Shortfall is significantly planned to be recovered in Quarter 4 of this year and consequently, there will not be any impact on a full-year basis," it said.
Shares of the drug firm ended 3.63 per cent higher at Rs 3,437.65 apiece on the BSE.
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