January 29th, 2013: Ahmedabad-based Pharmaceuticals major, Torrent Pharmaceuticals Limited, today released its financial results for the quarter ended 31st December, 2012. The Q3’ 12-13 revenues stood at Rs. 798 crores, up by 15% from Rs. 695 crores in the comparable quarter of last year.
During Q3, domestic formulation business recorded revenues of Rs. 258 crores, growing by 13%.
International revenues grew by 17% to Rs. 462 crores. Operations in Brazil registered revenue de-growth of 3%. Adjusting for currency movements, Brazilian operations registered revenue growth of 4% during the quarter. Revenues from the US operations recorded growth of 44% while the Germany-based Heumann registered a revenue growth of 15%. Revenues from Europe (other than Heumann), Russia & CIS and Rest of the World operations recorded a growth of 14%.
Profit before Taxes for the quarter grew by 38% to Rs. 143 crores compared to Rs. 104 crores during the same period last year.
Profit after Taxes for the quarter grew by 33% to Rs. 112 crores compared to Rs. 84 crores during the same period last year.
For YTD December 2012, the revenues increased by 16% to Rs. 2342 crores compared with Rs. 2022 crores for the corresponding period last year. Profit before Taxes grew by 18% to Rs. 423 crores compared to Rs. 357 crores during the same period last year. Profit after Taxes grew by 13% to Rs. 324 crores compared to Rs. 287 crores during the same period last year.
The total revenue expenditure on R&D was 5% of consolidated net sales and operating income.
The company declared an interim dividend of 120%.
About Torrent Pharma: Torrent Pharma, with an annual turnover of over Rs. 3000 crores is the flagship company of the 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, Pain management and Gynecology. Its Research Center employs over 640 scientists in the areas of drug discovery and development. Currently, Torrent has various discovery projects in pipeline. It has filed 450 patents for NCE’s in all major markets worldwide, of which 211 patents have been granted so far. Torrent’s manufacturing plant at Chattral has a capacity to manufacture approx. 5,500 million Tablets, capsules and vials and 45,000 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 3,300 million tablets and 350 million capsules. Manufacturing plant at Sikkim has a capacity to manufacture 3,900 million tablets per annum.Torrent is also setting up a Greenfield manufacturing facility in Dahej SEZ for both API and formulations.
