Drug firm Torrent Pharmaceuticals Ltd on Monday (August 7) reported a 6.8 percent year-on-year (YoY) increase in net profit at Rs 378 crore for the first quarter that ended June 30, 2023.
In the corresponding quarter last year, Torrent Pharmaceuticals posted a net profit of Rs 354 crore, the company said in a regulatory filing.
In the quarter, total revenue stood at Rs 2,591 crore during the period under review, up 10.4 percent against Rs 2,347 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA increased 11.1 percent to Rs 791 crore in the first quarter of this fiscal over Rs 712 crore in the corresponding period in the previous fiscal.
EBITDA margin stood at 30.5 percent in the reporting quarter as compared to 30.3 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.
Torrent Pharma's India revenue stood at Rs 1,426 crore, up by 14.5 percent, Brazil revenue at Rs 190 crore, up by 3 percent, Germany revenue at Rs 258 crore, was up by 21 percent, and US revenue at Rs 293 crore, down by 2 percent.
As on June 30, 2023, 45 Abbreviated New Drug Applications (ANDAs) were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 1 ANDA was approved, the company added.
The results came after the close of the market hours. Shares of Torrent Pharmaceuticals Ltd ended at Rs 2,051.50, down by Rs 10.05, or 0.49 percent on the BSE.
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