Torrent Pharma Q3 Results FY2023, PAT at Rs. 283 crores

Shreya Anaokar 27th January 2023 - 02:00 pm

On 25th January 2023, Torrent Pharma announced its results for the third quarter of FY2023.

Key Highlights:

- Revenue at Rs. 2,491 crores up by 18%.
- Gross margins was reported at 71%
- Operating EBITDA margins stood at 29.1%.
- Operating EBITDA at Rs. 724 crores was up by 35%
- Net profit after tax at Rs. 283 crores was up by 13.7%.

Business Highlights:

- India revenues at Rs 1,259 crores grew by 17% and included revenue from the integration of Curatio Healthcare. As per AIOCD secondary data, Torrent’s growth for the quarter was 12% vs IPM growth of 12%
- Brazil's revenue at Rs 248 crores, was up by 36%. Constant currency revenue at R$ 159 million was up by 17%. Growth was aided by the performance of top brands and market share gain and strong momentum in the generic segment.
- Germany's revenue at Rs 241 crores was up by 1%. Constant currency revenue was Euro 29 million, up by 4%. Sequential recovery in Germany was complemented by new tenders and growth of the OTC segment.
- US revenue at Rs 291 crores, was up by 24%. Constant currency revenue at $35 million was up by 13%. As of December 31, 2022, 48 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 1 ANDAs was filed & 1 ANDAs was approved.

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Shreya Anaokar

Disclaimer: Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.

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