Drug firm Torrent Pharmaceuticals Ltd on Tuesday, May 30, reported a net profit of Rs 287 crore for the fourth quarter that ended March 31, 2023. In the corresponding quarter last year, the company posted a net loss of Rs 118 crore.
In the March quarter, total revenue stood at Rs 2,491 crore, up 16.9 percent against Rs 2,131 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA increased 30 percent to Rs 727 crore in the fourth quarter of this fiscal over Rs 561 crore in the corresponding period in the previous fiscal.
The EBITDA margin stood at 29.2 percent in the reporting quarter against 26.3 percent in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Torrent Pharma's Indian revenues stood at Rs 1,257 crore, up 22 percent year-on-year, while its Brazil revenues increased 27 percent to Rs 318 crore. Its Germany revenues stood at Rs 253 crore, up 16 percent year-on-year, while US revenues grew by 1 percent to Rs 280 crore for the quarter under review.
As per All India Organisation of Chemists and Druggists (AIOCD) secondary data, Torrent's growth for the quarter was 12 percent versus the Indian pharmaceutical market (IPM) growth of 11 percent. Torrent is now the sixth largest company in the IPM as per MAT March 2023 data.
For FY23, Indian revenue stood at Rs 4,984 crore, up by 16 percent, while Brazil's revenue stood at Rs 935 crore, up by 26 percent (constant currency revenue: 598 million Brazilian reals, up by 13 percent).
Germany's revenue stood at Rs 928 crore, down by 4 percent (constant currency revenue: 111 million euros), while US revenue was Rs 1,162 crore, up by 9 percent (constant currency revenue: $145 million, up by 1 percent).
The board has recommended a final dividend of Rs 8 (160 percent) per equity share of Rs 5 each. Earlier, an interim dividend of Rs 14 (280 percent) per equity share was paid during the last quarter.
The results came after the close of the market hours. Shares of Torrent Pharmaceuticals Ltd ended at Rs 1,717.15, up by Rs 11.75, or 0.69 percent on the BSE.
