 | 
| ||
| home > Torrent Pharma > news | |||
| Torrent Pharma’s Q1 net profit up 84% at Rs. 49 crores | |||
| 29 Jul 2008
: Torrent Pharma’s Q1 net profit up 84% at Rs. 49 crores Ahmedabad-based pharma major, Torrent Pharmaceuticals Limited, today released its audited financial results for the quarter ended 30th June, 2008. The consolidated sales for the quarter stood at Rs. 388 crores up 17% from Rs. 331 crores registered in the comparable quarter. Consolidated international sales jumped by 38% to Rs 178 crores on the back of strong growth in Brazil and Europe operations (other than Heumann). During the quarter the domestic formulation business registered flat sales of Rs. 172 crores. Brazilian operations clocked robust sales growth of 89% with sales of Rs. 70 crores up from Rs. 37 crores in comparable quarter. Europe operations (other than Heumann) registered an impressive performance with sales at Rs. 21 crores in the quarter, up by 122% on the back of new product introductions. Heumann registered an expected de-growth of 12% in sales to Rs 52 crores compared to Rs. 59 crores due to continued pricing pressures. Manufacturing of products constituting a significant part of Heumann sales have been successfully transferred to India and is expected to reap benefits of lower costs from H2 of this year. During the quarter Company recorded modest sales in US market of Rs 3 crores mainly from single product. Approval is expected for 4 products in H2 of this year out of 13 ANDA filings. The company continues to invest in product development for the US & EU markets. R&D expense for the quarter was 7% (comparable quarter 6%) of the consolidated revenues. Consolidated operating profits (PBDIT) for the quarter moved up by 53% to Rs 69 crores as compared to Rs 45 crores in comparable quarter. Operating margin, ex-R&D expenses, expanded to 24.4% from 19.8% primarily on account of SGA efficiency. Consolidated net profit for the quarter increased by 84% to Rs 49 crores from Rs. 27 crores in comparable quarter. About Torrent Pharma: Torrent Pharma, with an annual turnover of over Rs. 1300 crores, is the flagship company of Rs. 5000 crores Torrent Group. With many of its products ranking among the Top 200 brands, Torrent continues to be at the forefront of the Indian pharmaceutical industry through research, innovation and breakthrough discoveries in the therapeutics areas of Diabetology, Cardiovascular, Central Nervous System, Gastro-Intestinal, Anti-infective and Pain management. Its Research Centre employs over 600 scientists in the areas of drug discovery and development. Currently, Torrent has seven discovery projects in pipeline. It has filed 307 patents for NCE’s in all major markets worldwide, of which 139 patents have been granted/accepted so far. Torrent’s manufacturing plant at Chhatral has a capacity to manufacture approx. 3,000 million Tablets, capsules and vials and 15000 kgs of Bulk Drugs/API. The facility has already been approved by authorities from regulated markets like US, UK, Germany, Australia and South Africa. The manufacturing plant at Baddi has a capacity to manufacture 3600 million tablets, 150 million capsules, 10 million Oral Liquid bottles and 12 million sachets per annum. |
|||
| | ||
| home > Torrent Pharma > news | |||
 |
|||
| |||