Profit after tax up 24% to Rs 386 crore

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Pharma company Torrent Pharmaceutical posted a 24 per cent year-on-year increase in profit after tax (PAT) during the quarter that concluded on September 30, 2023, reaching Rs 386 crore. The company also posted a 16 per cent increase in its consolidated revenue from operations, which came in at Rs 2,660 crore, in contrast to Rs 2,291 crore in Q2 FY23. This increase in PAT can be attributed to an improvement in the total income.

On a sequential basis, the company exhibited a 2.66 per cent increase in revenue and was able to turn around the PAT by 2.09 per cent.

India revenue stood at Rs 1,444 crore, exhibiting a growth of 18 per cent compared to the preceding corresponding quarter, which stood at Rs 1,224 crore. As per AIOCD secondary market data, during the quarter, the IPM (Indian Pharmaceutical Market) exhibited a growth rate of 4 per cent. The market’s strong performance can be primarily attributed to factors such as continued double-digit growth in chronic therapies, revival in gastro demand, traction in consumer division, and new launches.

Rest of the World (RoW) region (excluding India) amounted to Rs 1,216 crore, displaying a growth of 13.96 per cent compared to the preceding corresponding quarter’s figure, which stood at Rs 1,067 crore.

First Published: Oct 23 2023 | 6:59 PM IST

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