Torrent Pharma slips on dull Q3 numbers
Torrent Pharmaceuticals fell 3.05% to Rs 1965 after the company announced its third quarter earnings after market hours yesterday.
The company's consolidated net profit rose 2% to Rs 251 crore in Q3 December 2019 from Rs 246 crore in Q3 December 2018. Adjusted for one-time impact of patent related settlement and litigation cost in December 2018 quarter, net profit is up by 17%.
Profit before tax (PBT) stood at Rs 319 crore in Q3 December 2019, up by 16% from Rs 275 crore in Q3 December 2018.
Net sales declined by 1.2% to Rs 1924 crore in Q3 December 2019 from Rs 1948 crore in Q3 December 2018.
The company's revenue from the India business rose by 5% YoY to Rs 871 crore while the Brazil revenues reported 12% YoY uptick to Rs 189 crore. US revenues were down by 22% to Rs 381 crore while Germany revenues stood at Rs 219 crore, down by 18% in Q3 December 2019 over Q3 December 2018.
Gross margins stood at 72.4% in the December quarter.
EBITDA rose 6% (YoY) to Rs 591 crores with an EBITDA margin of 30%. Adjusted for onetime impact of patent related settlement and litigation cost in December 2018 quarter, EBITDA grew 13%.
The company's R&D spends stood at Rs 110 crore in Q3 FY20 as compared to Rs 135 crore in Q3 FY19, down by 18.51% YoY.
Torrent Pharmaceuticals manufactures bulk drugs and pharmaceutical formulations.
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First Published: Jan 28 2020 | 9:17 AM IST