Torrent Pharmaceuticals The shares ended higher after net profit increased 2.80% to Rs330cr in the quarter ending June 2021. The company posted a profit of Rs321cr during the previous quarter ending June 2020.
Sales increased 5.26% to CU2,120 in the quarter ending June 2021 compared to the prior quarter ending June 2020.
Sequentially, revenue increased 10.17% compared to Rs1,937cr in the March 21 quarter, showing limited COVID impact. During the quarter, Torrent Pharma launched the anti-COVID drug, Bariticinib, which is currently in clinical trials for Molnupiravir.
On a year-over-year basis, Indian revenue showed 18% growth to Rs1,093cr. However, US sales fell -29% to Rs266cr due to elevated price pressures amid generic competition in the US markets. Other key markets such as Germany and Brazil grew 5% and 9% respectively. CRAMS business grew 6% year-on-year.
The stock ended at Rs 3,084.10 with an increase of Rs 80.35 or 2.67% from its previous close of Rs 3,003.75 on the BSE. The bond opened at Rs3,030 and has touched a high and low of Rs3,105.85 and Rs2,890 respectively.
