Torrent Pharmaceuticals, a Rs.3,000 crore plus Ahmedabad based pharma major, has posted consolidated net profit growth of 5.6 per cent during the second quarter ended September 2013 from Rs.107 crore in the corresponding period of last year. EBDITA increased by 13.9 per cent to Rs.189 crore from Rs.166 crore. Its net sales increased smartly by 25.3 per cent to Rs.936 crore from Rs.747 crore. EPS worked out to Rs.6.64 as against Rs.6.34 in the last period.
The domestic formulation business revenue recorded a growth of 10 per cent to Rs.297 crore. Its international revenues grew by 32 per cent to Rs.573 crore as its US business clocked growth of 24 per cent, Europe (including Heumann) 54 per cent, Brazil growth of eight per cent and Rest of the World, including Russia, CIS, Mexico and Canada 31 per cent. Its branded sales increased by 10 per cent to Rs.302 crore and sales from contract manufacturing improved by 27 per cent to Rs.71 crore from Rs.56 crore.
During the quarter there were disruptions in the market on account of various demands of the trade, subsequent to the notification of DPCO 2013 and the related price notifications. This has impacted the over all market in the country with Torrent covered market as well as the overall Indian pharmaceutical market growing at only three per cent as per AIOCD reports.
For the first half ended September 2013, Torrent's consolidated net sales increased by 24 per cent to Rs.1,839 crore from Rs.1,483 crore in the similar period of last year. Its net profit also zoomed by 25.4 per cent to Rs.262 crore from Rs.209 crore despite lower other income and higher interest burden. Its interest burden went up by 25.3 per cent to Rs.23 crore from Rs.17 crore. Its sales from contract manufacturing improved by 26 per cent to Rs.131 crore from Rs.104 crore and that of branded sales up by 11 per cent to Rs.618 crore.