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| Torrent Pharma's net up 64% |
| BS Reporter / Ahmedabad Jan 28, 2010, 00:40 IST |
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Ahmedabad-based Torrent Pharmaceuticals posted a 64 per cent increase in net profit during the quarter ended December on the back of higher sales and lower forex losses.
Profit after tax during the quarter was at Rs 83 crore against Rs 51 crore during the same period last year.
The company’s sales for the quarter were up 10 per cent, at Rs 473 crore against Rs 429 crore in the comparable quarter last year.
Torrent Pharma, with an annual turnover of over Rs 1,600 crore, is the flagship company of the Rs 6,400-crore Torrent Group.
The domestic formulation business recorded sales of Rs 183 crore, growing 15 per cent.
Sales outside India were up 10 per cent at Rs 246 crore. Torrent Pharma’s operations in Brazil registered sales growth of 32 per cent during the quarter —- from Rs 67 crore to Rs 89 crore.
US operations registered sales of Rs 27 crore against Rs 8 crore in the comparable quarter last year. Germany-based Heumann operations clocked sales of Rs 66 crore growing by 16 per cent. Europe (other than Heumann), rest of the world and Russia & CIS operations registered an 8 per cent dip in sales to Rs 64 crore.
The company’s operating profits (PBDIT) for the quarter grew 49 per cent at Rs 109 crore compared to Rs 73 crore in the corresponding quarter last year.
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