Torrent Pharmaceuticals Limited posted a separate net profit of ₹ 326 crore for the second quarter ending September 30, 2021, indicating a 15% increase over the prior year period.
The company's independent operating income increased to ₹ 1,799 crore for the quarter compared to ₹ 1,640 crore in the same quarter last year.
On a consolidated basis, the company posted a net profit of ₹ 316 crore for the quarter, approximately 2 percent more than ₹ 310 crore in the corresponding quarter last year. Consolidated income from operations stood at Rs 2,137 crore in the quarter compared to Rs 2017 crore in the same period last year.
Consolidated EBITDA for the quarter was 711 million rupees, 11% higher than 641 million rupees in the same quarter last year.
In the overseas business, the company's revenue in the United States fell 13 percent. "Sales were lower due to the erosion of prices in the base business and the lack of new approvals, pending a re-inspection of the facilities," the company said in a statement.
Germany's revenue was down 4 percent from the same period last year as growth during the quarter suffered due to Covid-induced supply delays and inventory normalization led by customer consolidation. on the market, the company said.
In Brazil, the company posted 21% revenue growth, driven primarily by the momentum of large brands combined with the strong launch of two new products.
India's revenue grew 13 percent and the company reportedly outperformed the market on all of its key therapies during the quarter.
Shares of Torrent Pharmaceuticals fell more than 3 percent to ₹ 2,848 on BSE during trading on Wednesday.
