Torrent Pharmaceuticals, the leading Ahmedabad-based Indian pharmaceutical company, on Wednesday announced its consolidated financial results for the third quarter ending December 31, 2022, the pharmaceutical company posted an 18 percent increase in its consolidated revenue year-on-year.
Torrent Pharmaceuticals, the leading Indian pharmaceutical company based in ahmedabad announced its consolidated financial results for the third quarter ending December 31, 2022 on Wednesday, the pharmaceutical company posted an 18 percent increase in its consolidated revenue year-over-year. The company's revenue for the third quarter was Rs 2,491 crore as against Rs 2,108 crore for the same quarter last year.
The company posted a net profit of Rs 283 crores in the third quarter of fiscal 2023 (Q3FY23) against Rs 249 crores recorded in the corresponding quarter of the previous year, a year-on-year increase of 14 per cent.
Pharmaceutical industry EBITDA rose 35% yoy to register at Rs 724 crores in the December quarter from Rs 538 crores in the same quarter last year.
The company's R&D spending for the quarter was Rs 123 crore, which is unchanged compared to spending in the same quarter last year.
Torrent revenue in India came in at Rs 1259 crore, up 17 percent year-on-year. The company said this also included revenue from the Curatio Healthcare integration. While the company's sales in Brazil, Germany and the US amounted to Rs 248 crores, Rs 241 crores and Rs 291 crores respectively.
