Torrent Pharma April-June Profit Up 20% On Strong US, India Sales

Torrent Pharmaceuticals Ltd. posted a 20.0% on-year rise in consolidated net profit to ₹5,480.0 million for April–June, supported by steady growth across key geographies. Revenue from operations rose 11.1% on year to ₹31,780.0 million, the highest quarterly growth in seven quarters.

The company’s US business delivered a 19.0% on-year increase in rupee terms to ₹3,080.0 million, or 16.0% growth in constant currency. Torrent said recent launches in the US achieved targeted market shares.

India revenue grew 11.0% on year to ₹18,110.0 million, driven by strong performance in chronic therapies, which saw 13.0% growth. Brazil revenue rose 11.0% to ₹2,180.0 million, or 16.0% in constant currency, aided by top-performing brands and new launches.

Revenue from Germany rose 9.0% on year to ₹3,080.0 million. However, in constant currency, the growth was just 1.0% due to supply disruptions at a third-party vendor.

Operating earnings before interest, tax, depreciation, and amortisation rose 14.0% on year to ₹10,320.0 million. The EBITDA margin improved to 32.5% from 32.0% a year ago.

The cost of materials consumed declined 3.7% on year to ₹3,960.0 million, while purchases of stock-in-trade rose 8.0% to ₹3,380.0 million, the slowest pace in six quarters. Stock-in-trade purchases made up 14.0% of total expenses.

Employee benefit expenses rose 10.0% to ₹6,050.0 million, accounting for one-fourth of the total expenses. Other expenses, which formed the largest share at 32.0%, increased 7.9% on year to ₹7,670.0 million.

The company spent ₹1,570.0 million on research and development, up 16.0% on year. R&D spending accounted for 5.0% of revenue, in line with the year-ago period.