Torrent Pharmaceuticals records 25 per cent growth in revenues during Q2′ 13-14

Ahmedabad-based Torrent Pharmaceuticals has posted its financial results for the quarter ended September 30, 2013. The Q2’13-14 revenues stood at Rs 972 crores, up by 25 per cent from Rs 777 crores in the comparable quarter of last year.

During Q2, the domestic formulation business recorded revenues of Rs 297 crores, growing by 10 per cent. During the quarter, there were disruptions in the market on account of various demands of the trade, subsequent to the notification of DPCO 2013 and the related price notifications.

International revenues grew by 32 per cent to Rs 573crores. In the international operations, the US business reported growth of 24 per cent, Europe (including Heumann) 54 per cent, Brazil growth eight per cent and rest of the world, including Russia, CIS, Mexico and Canada 31 per cent.

Profit before taxes for the quarter was Rs 152 crores compared to Rs 139 crores during the same period last year. Profit after taxes for the quarter was Rs.113 crores compared to Rs.108 crores during the same period last year.

For H1, the revenues increased by 26 per cent to Rs 1,944 crores compared with Rs 1,544 crores for the corresponding period last year. During H1, profit before taxes grew by 22 per cent to Rs 339 compared to Rs 279 crores during the same period last year.

EP News Bureau – Mumbai