Torrent Pharm posts lower net of Rs.76.91 cr in Q3
Torrent Pharmaceuticals has suffered minor set back in profits during the third quarter ended December 2010 on account of higher R&D expenditure, employees cost and raw material costs. Further, investment in expansion in domestic and international market and adverse currency movements also impacted profits. Its consolidated net profit declined by 7.3 per cent to Rs.76.91 crore from Rs.82.95 crore in the similar period of last year. Its net sales, however, increased by 19.5 per cent to Rs.554.82 crore from Rs.464.20 crore. With margins under pressure, its earnings per share declined to Rs.9.09 from Rs.9.80 in the last period.
The company's R&D expenditure went up by 24.3 per cent to Rs.34.79 crore from 28 crore and its employees cost increased by 27.8 per cent to Rs.97.92 crore from Rs.76.64 crore. The EBDITA saw a nominal growth of 4.6 per cent to Rs.116.81 core from Rs.111.73 crore.
During the third quarter, its domestic formulation business recorded sales of Rs.214 crore, growing 17 per cent. Sales outside India jumped by 19 per cent to Rs.292 crore. Operations in Brazil registered impressive performance with sales growth of 15 per cent and revenues moving up from Rs.89 crore to Rs.102 crore. Germany-based Heumann operations recorded sales of Rs.76 crore with growth of 15 per cent. Europe (other than Heumann), Russia and CIS and Rest of he world operations grew by 22 per cent with sales
of Rs.78 crore rising from Rs.64 crore in comparable quarter. This company has recently entered the
Mexico and has plans to enter UK & Romania markets shortly.
For the first nine months of 2010-11, Torrent Pharma's net sales increased by 18 per cent to Rs.1662 crore from Rs.1411 crore in the same period of last year. Its domestic sales moved by 19 per cent to Rs.840 crore. The net profit increased sharply by 32 per cent to Rs.227 crore against Rs.172 crore in the last period.
The construction activities commenced at Dahej SEZ, where the company is setting up facilities for manufacture of API and formulations.
The company's R&D expenditure went up by 24.3 per cent to Rs.34.79 crore from 28 crore and its employees cost increased by 27.8 per cent to Rs.97.92 crore from Rs.76.64 crore. The EBDITA saw a nominal growth of 4.6 per cent to Rs.116.81 core from Rs.111.73 crore.
During the third quarter, its domestic formulation business recorded sales of Rs.214 crore, growing 17 per cent. Sales outside India jumped by 19 per cent to Rs.292 crore. Operations in Brazil registered impressive performance with sales growth of 15 per cent and revenues moving up from Rs.89 crore to Rs.102 crore. Germany-based Heumann operations recorded sales of Rs.76 crore with growth of 15 per cent. Europe (other than Heumann), Russia and CIS and Rest of he world operations grew by 22 per cent with sales
of Rs.78 crore rising from Rs.64 crore in comparable quarter. This company has recently entered the
Mexico and has plans to enter UK & Romania markets shortly.
For the first nine months of 2010-11, Torrent Pharma's net sales increased by 18 per cent to Rs.1662 crore from Rs.1411 crore in the same period of last year. Its domestic sales moved by 19 per cent to Rs.840 crore. The net profit increased sharply by 32 per cent to Rs.227 crore against Rs.172 crore in the last period.
The construction activities commenced at Dahej SEZ, where the company is setting up facilities for manufacture of API and formulations.
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