Torrent Pharma, a Rs 1033 crore pharma giant, received setback during the first quarter ended June 2005 and its standalone net profit declined by 5.8 per cent to Rs 31.42 crore from Rs 33.35 crore in the corresponding period of last year. Its standalone net sales, however, improved by 13.5 per cent to Rs 208.81 crore from Rs 183.97 crore. The earning per share for the face value of Rs 5 per share, worked out to Rs 3.71.
The consolidated sales improved during the first quarter ended June 2006 on account of strong growth in exports. The company’s consolidated sales increased by 35 per cent to Rs 299 core from Rs 221 crore in the corresponding period of last year. Its international sales grew by 111 per cent to Rs 123 crore from Rs 58 crore. The share of international sales in consolidated sales increased to 41 per cent from 26 per cent in the previous period.
The domestic formulation business registered sales of Rs 148 crore as against sales of Rs 131 crore in the last period, registering a growth of 12 per cent due to improved productivity of expanded sales force, strong performance in CNS segment and a slew of new product introductions. Shift of manufacturing base for domestic brands to Baddi plant has yielded improvement in margins for the current quarter due to excise savings.
Sales growth of 15 per cent was registered in the Brazilian operations with sales moving up from Rs 27 crore to Rs 31 crore. The company achieved growth of 61 per cent in Russian market and its sales reached at Rs 13 crore from Rs 8 crore. Heumann, (acquired in July 2005 in Germany), registered a sales of Rs 56 crore, affected by uncertainty arising from recent regulatory developments in the German generic industry. The integration of Heumann operations are proceeding smoothly and will help expand margins from 2007-08. The consolidated operating profit reached at Rs 34 crore and net profit amounted to Rs 16 crore.