Torrent Pharmaceuticals has reported strong growth in profitability during the second quarter ended September 2008. The consolidated net profit went up smartly by 84.3 per cent to Rs 48.28 crore from Rs 26.20 crore in the corresponding period of last year. Its profit before other income, interest and taxation also moved up by 53.2 per cent to Rs 54.82 crore from Rs 35.79 crore. The earning per share, with better profits, moved up to Rs 5.71 from Rs 3.10 in the last period.

The company’s consolidated net sales increased by 17 per cent to Rs 391.20 crore from Rs 334.25 crore in the similar period of last year. Its international sales jumped by 45 per cent to Rs 205 crore largely attributable to robust performance in Brazil, Europe and Russian operations. Brazilian operations continued to post robust sale growth of 82 per cent with sales of Rs 85 crore up from Rs 47 crore in comparable quarter. Europe operations (other than Heumann) registered a growth of 22 per cent with sales at Rs 21 crore. Heumann registered a sales growth of 15 per cent with sales of Rs 56 crore compared to Rs 49 crore.

Its domestic formulation business registered sales of Rs 157 crore representing a sales growth of 3 per cent.

During the quarter, Torrent Pharma has filed 16 ANDAs and 10 DMFs with US FDA as part of is US operation. It received approvals for 5 ANDAs. Significant investment in product development is being made to support the build-up of US and European operations.

The consolidated net sales for the first half ended September 2008 increased to Rs 771.69 crore from Rs 660.03 crore, a growth of 16.9 per cent. The net profit increased by 84.2 per cent to Rs 97.58 crore from Rs 52.98 crore.