Torrent Pharmaceuticals, a Rs.2,100 crore plus pharma giant from Ahmedabad, has achieved satisfactory performance during the third quarter ended December 2011 and its consolidated net profit increased by 8.2 per cent to Rs.83.18 crore from Rs.76.91 crore in the corresponding period of last year. The consolidated net sales increased by 21.8 per cent to Rs.675.54 crore from Rs.554.82 crore. The board of directors has recommended an interim dividend of Rs.6 per share for share Rs.5 each for the year 2011-12.

The company's sales in India increased by 7 per cent to Rs.292.47 crore from Rs.273.56 crore in the similar quarter of last year. The sales of branded business in domestic market moved up by 8 per cent to Rs.230.21 crore from Rs.213.79 crore and that from contract manufacturing increased marginally by 3 per cent to Rs.60.87 crore from Rs.59.38 crore. The lower growth is due to relatively low performance in the acute therapy segment.

Its international sales, however, has taken a quantum jump of 36 per cent to Rs.396.06 crore from Rs.291.55 crore. Operations in Brazil registered revenue growth of 27 per cent while the Germany-based Heumann registered a revenue growth of 14 per cent. Its revenues from the US operations grew by 67 per cent while business from Europe (other than Heumann), Russia & CIS and Rest of the World recorded a growth of 37 per cent. Investment in product development are being made to support the build-up of the Brazil, Europe and US operations. The total revenue expenditure on R&D was 5 per cent of consolidated net sales in third quarter of 2011-12.

For the first nine months ended December 2011, Torrent Pharma's consolidated net sales increased by 19.3 per cent to Rs.1,947 crore from Rs.1,632 crore in the same period of last year and its net profit jumped by 25.7 per cent to Rs.286 crore from Rs.227 crore. Its EBDITA moved up by 20.5 per cent to Rs.423.31 crore from Rs.351.18 crore in the last period.

The company's standalone net sales for the nine months period ended December 2011 increased by 12.7 per cent to Rs.1,296 crore in the similar period of last year. However, its standalone net profit declined by 6.2 to Rs.231.18 crore from Rs.246.40 crore.