Torrent Pharmaceuticals, a Rs. 4,000 crore plus pharma major from Ahmedabad, has posted consolidated net profit growth of 5.7 per cent during the third quarter ended December 2014 to Rs. 167 crore as against Rs. 158 crore in the similar quarter of last year. Higher interest cost and depreciation provision put pressure on bottomline. Its consolidated net sales moved up 16.8 per cent to Rs. 1,156 crore from Rs. 990 crore.
The Board of Directors has recommended interim dividend of 100 per cent for the year 2014-15.
Its domestic sales improved by 42 per cent to Rs. 420 crore on account of acquisition of Elder business. Excluding this sales growth for quarter would have been 15 per cent. Its international revenues increased by 4 per cent to Rs. 660 crore. Its sales in US increased by 16 per cent and that in Brazil improved by 6 per cent. However, its revenues in Europe declined by 9 per cent and sales from Rest of the World including Russia & Mexico grew by 12 per cent.
For the first nine months ended December 2014, Torrent's consolidated net sales increased by 22 per cent to Rs. 3,451 crore from Rs. 2,829 crore in the corresponding period of last year. The domestic sales increased by 34 per cent to Rs. 1,216 crore and its international revenues grew by 18 per cent to Rs. 2,065 crore. Its US and Brazil revenues improved by 62 per cent and 15 per cent respectively. Similarly, its European sales improved by 4 per cent, but ROW sales remained flat. Its net profit surged by 47.9 per cent to Rs., 621 crore from Rs. 420 crore. EPS worked out to Rs. 36.67 as against Rs. 24.79.
Torrent's standalone net sales for the nine months period ended December 2014 increased by 10.9 per cent to Rs. 2,532 crore from Rs. 2,284 crore in the same period of last year and its net profit moved up marginally to Rs. 520 crore from Rs. 510 crore.