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Torrent Pharmaceuticals announced Q3FY24 results:
Financial Performance for Q3FY24:
- Revenue: Rs 2,732 crore, indicating a 10% increase.
- Gross Margin: 75%, maintaining a stable position in the market.
- Operational EBITDA: Rs 869 crore, experiencing a 20% growth.
- Exceptional Items: Gained net proceeds of Rs 88 crore from the sale of a US facility.
- Net Profit After Tax (PAT): Rs 443 crore, marking a significant 52% surge.
- Research & Development (R&D) Spend: Rs 127 crore, reaffirming the company's commitment to innovation.
- Debt Equity Ratio: A ratio of 0.53, indicating a moderate level of debt in comparison to equity.
- Debt Service Coverage Ratio: At 2.21, suggesting the company's ability to service its debt is well-managed.
- Interest Service Coverage Ratio: Standing at 9.08, showing a strong ability to meet interest expenses.
- Net Profit Margin: The net profit margin stood at 16%, representing the profitability from the revenue earned.
Country-wise Performance for Q3FY24:
- India: Revenues reached Rs 1,415 crore, up by 12%, outperforming the market in focus therapies.
- Brazil: Reported revenues of Rs 312 crore, growing by 26%, with constant currency revenues up by 17%.
- Germany: Achieved revenues of Rs 270 crore, increasing by 12%, with constant currency revenues rising by 6% due to tender wins.
- United States: US business revenues saw a slight decrease of 6% to Rs 274 crore, with constant currency revenues down by 7%, affected by a lack of new product launches.
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