Torrent Pharmaceuticals, a Rs.2,500 crore Ahmedabad based pharma major, has achieved impressive growth in profit during the third quarter ended December 2012 and its net profit zoomed by 35 per cent to Rs.112.33 crore from Rs.83.18 crore in the similar period of last year. Its net sales increased by 14.3 per cent to Rs.768.63 crore from Rs.673.47 crore. With significant higher net profit, its earnings per share worked out to Rs.13.28 as compared to Rs.9.83 in the last period. The company management declared interim dividend of 120 per cent.

Its domestic formulation business recorded revenue of Rs.258 crore, representing a growth of 13per cent. Its international revenues grew by 17 per cent to Rs.462 crore. Operations in Brazil registered revenues de-growth of 3 per cent. Adjusting for currency movements, Brazilian operations registered revenue growth of 4 per cent during the quarter. Revenues from the US operations registered a growth of 44 per cent while the Germany-based Heumann registered a revenue of 15 per cent. Its revenues from Europe (other than Heumann), Russia & CIS and Rest of the World operations recorded a growth of 14 per cent.

Torrent's net sales for the first nine months period ended December 2012 increased by 16 per cent to Rs.2,251 crore from Rs.1,940 crore in the corresponding period of last year and its net profit moved up by Rs.321.43 crore from Rs.285.69 crore. Its EBDITA moved up by 13.4 per cent to Rs.507.70 crore from Rs.447.69 crore.

The total revenue expenditure on R&D was 5 per cent of consolidated net sales and operating income. Its Research center employs over 640 scientists in the areas of drug discovery and development. It has various discovery projects in pipeline. The company has filed 450 patents for NCE's in all major markets worldwide, of which 211 patents have been granted so far. The company is setting up a greenfield manufacturing facility in Dahej SEZ for both API and formulations.