Torrent Pharma Q1 Net up 46 pc at Rs 149 crore

AHMEDABAD: Ahmedabad-based drug maker, Torrent Pharmaceuticals Ltd, reported its net profit rise by 44% and revenue by 27% for the first quarter of the financial year 2013-14. Company registered growth in international market except Brazil where it registered de-growth.

As per the company’s press statement issued on Friday evening, profit after taxes (net profit) for the first quarter ended 30th June, 2013 was Rs 149 crore compared to Rs 102 crore during the same period last year. The Q1’13-14 revenues stood at Rs 972 crore, up by 27% from Rs 767 crore in the comparable quarter of last year.

During Q1, domestic formulation business recorded revenues of Rs 312 crores, growing by 12%. International revenues grew by 28% to Rs 539 crores. In the international operations, US business reported a growth of 43%, Europe 49%, Rest of the World, including Russia and CIS 23%, while Brazil registered a de-growth of 2%. However, the company did not elaborated the reason behind Brazil de-growth in its statement.