NE NEWS SERVICE
NEW DELHI, FEB 8
Drug firm Torrent Pharmaceuticals on Monday reported an 18.32 percent rise in its consolidated net profit to Rs 297 crore for the quarter ended in December.
The company had posted a net profit of Rs 251 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to BSE.
The consolidated revenue of the company stood at Rs 1,995 crore for the quarter under consideration. It was Rs 1,966 crore for the same period a year ago, it added.
India revenues for the third quarter ended December 2020 was at Rs 930 crore, a growth of 7 percent. Growth was driven by market recovery, continued momentum in chronic brands, and a strong recovery in sub-chronic brands, Torrent Pharma said.
US revenues at Rs 292 crore, were down by 24 percent. Sales were impacted by price erosion on base business and base impact of Sartan portfolio discontinuation, it added.
Brazil revenues at Rs 173 crore, were down 8 percent for the quarter under consideration. Germany revenues were up 21 percent to Rs 265 crore for the quarter under consideration, the filing said.
The board of the company has approved an interim dividend of Rs 20 per equity share of Rs 5 fully paid up, it added.
Shares of Torrent Pharmaceuticals closed at Rs 2,758.30 per scrip on the BSE, up 0.25 percent from its previous close.
