Torrent Pharma's fiscal year 22 first quarter profit increased 2.8 percent to Rs 330 crore on a year-over-year basis, while its revenue increased 4 percent to Rs 2,134 crore.
The company's gross margins stood at 72.4 percent, while EBITDA margins were 34 percent during the first quarter of fiscal year 22. Its EBITDA during the April-June quarter increased 8 percent. at 717 million rupees, while the after-tax profit was recorded at 484 million rupees.
The pharmaceutical company's R&D spending also increased 16 percent to Rs 125 crore. The company's revenue in India grew 18 percent to Rs 1,093 crore. According to AIOCD data, Torrent's fiscal year 22 first quarter growth was 24 percent versus IPM's growth of 37 percent. "IPM's growth during the quarter includes a high contribution from Covid treatments and a low base last year," the company said.
The company said it launched the Covid-19 drug baricitinib during the quarter and is currently conducting clinical trials for molnupiravir. The company's US revenue decreased 29 percent to Rs 266 crore in the first quarter, while Brazil revenue grew 9 percent to Rs 153 crore and Germany revenue grew 5 percent. one hundred to 260 crore.
Torrent Pharma, with annual revenues of over Rs 8 billion, is the flagship company of the Torrent Group. Torrent Pharma shares closed Rs 68.05 or Rs 2.21 percent lower at Rs 3,011.15 on the NSE on Tuesday.
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