New Delhi, Oct 23 : On the back of strong growth in branded markets, Torrent Pharma on Monday reported 24% year-on-year increase in net profit at Rs 386 crore for the quarter ending September 2023.
The company had posted a net profit of Rs 312 crore in July-September quarter (Q2) of the previous year.
At Rs 2,660 crore, Torrent Pharma’s revenue witnessed a growth of 16% year-on-year during the September quarter of the current financial year.
The company’s India revenue rose 18% to Rs 1,444 crores during Q2 of the current financial year.
“Market outperformance was led by continued double digit growth in chronic therapies, revival in gastro demand, traction in consumer division, and new launches,” Torrent Pharma said in a media statement.
The company reported high double-digit revenue growth in Brazil and Germany. Its US revenue was, however, down 15% at Rs 248 crores during Q2 of FY24.
“Constant currency revenue at $30 million was down by 18%. Adjusted for one off income in the corresponding quarter previous year, the de-growth is 13% (INR) and 16% (constant currency),” the company said about the US market.
Torrent Pharma, with annual revenue of more than Rs 9,600 crores, is the flagship company of the Torrent Group.
