Torrent Pharma spurts after good Q2 performance

Torrent Pharmaceuticals rose 4.90% to Rs 1763 after consolidated net profit rose 36.3% to Rs 244 crore on a 5.9% rise in net sales to Rs 1968 crore in Q2 September 2019 over Q2 September 2018.

The result was announced after market hours yesterday, 23 October 2019.

EBITDA rose 20% to Rs 573 crore in Q2 September 2019 over Q2 September 2018. EBITDA margin stood at 28.6% in Q2 September 2019.

The R&D spend fell 4.41% to Rs 130 crore in Q2 September 2019 over Q2 September 2018.

The company's India business stood at Rs 899 crore (up by 10% YoY). Base impact of discontinued products in previous year is 2%. Adjusted for this growth is 12%.

 

The US revenues stood at Rs 380 crore (down by 3% YoY). 6 ANDAs were filed during the quarter. As on 30 September 2019, 42 ANDAs are pending approval and 6 tentative approvals have been received.

The revenues from Germany stood at Rs 250 crore (down by 1% YoY) while Brazil revenues stood at Rs. 156 crore (up by 7% YoY).

Meanwhile, the S&P BSE Sensex was down 7 points or 0.02% to 39052.16.

On the BSE, 22,272 shares were traded in the counter so far compared with average daily volumes of 16,295 shares in the past two weeks. The stock hit a high of Rs 1766 and a low of Rs 1685.05 so far during the day.

The stock hit a 52-week high of Rs 1964 on 29 Mar 2019. The stock hit a 52-week low of Rs 1453 on 23 Jul 2019.

Torrent Pharmaceuticals deals in the therapeutics segments of cardiovascular (CV), central nervous system (CNS), gastro-intestinal (GI), and vitamins minerals nutritionals (VMN). It has a presence in more than 40 countries.

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