Torrent Pharmaceuticals, a Rs.2,590 crore plus pharma major from Ahmedabad, has posted consolidated net profit growth of 7.2 per cent during the second quarter ended September 2012 to Rs.107.25 crore from Rs.99.99 crore in the corresponding period of last year. Its consolidated net sales improved by 13.9 per cent to Rs.747.17 crore from Rs.655.96 crore. Earnings per share worked out to Rs.12.67 as against Rs.12.04 in the last period.
The domestic formulation business recorded revenues of Rs.274 crore, growing by 15 per cent and its International revenues grew by 15 per cent to Rs.417 crore. Operations in Brazil registered revenue de-growth of 7 per cent. During the quarter, there was a strike by the Brazilian regulatory organization (ANVISA), which affected clearance of the goods from the ports. Revenues from the US operations recorded growth of 80 per cent while business from Europe (other than Heumann), Russia & CIS and Rest of the World recorded a growth of 17 per cent. The total revenue expenditure on R&D was 5 per cent of consolidated net sales and operating income.
For the first half ended September 2012, the company's consolidated net sales increased by 17 per cent to Rs.1482.77 crore from Rs.1266.94 crore in the similar period of last year. Its net profit improved marginally by 3.2 per cent to Rs.209.10 crore from Rs.202.51 crore due to significant higher taxation. It provided Rs.68.30 crore for tax as compared to Rs.49.89 crore in the last period. Its EBDITA increased by 7.6 per cent to Rs.337.63 crore from Rs.313.70 crore.