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Torrent Pharma third quarter net profit up 18% at Rs 297 crore

The firm reported an 18.32 per cent rise in its consolidated net profit to Rs 297 crore for the quarter ended in December.

Torrent Pharma | Torrent Pharma results | Q3 results

Press Trust of India  |  New Delhi 

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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, 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, 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.

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.

Shares of Torrent Pharmaceuticals closed at Rs 2,758.30 per scrip on the BSE, up 0.25 per cent from its previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, February 08 2021. 17:38 IST