Torrent Pharma Q1 results: Net profit up 2.8% to Rs 330 cr

New Delhi: Drug firm Torrent Pharmaceuticals on Tuesday reported a 2.8 percent rise in its consolidated net profit to Rs 330 crore for the quarter ended in June. The company had posted a net profit of Rs 321 crore for the corresponding period of the previous fiscal, Torrent Pharmaceuticals said in a regulatory filing.

Consolidated revenue from operations of the company stood at Rs 2,134 crore for the quarter under consideration. It was Rs 2,056 crore for the same period a year ago, it added.

India revenues at Rs 1,093 crore, grew by 18 percent for the quarter ended June 30, 2021, Torrent Pharma said.

Regarding COVID drugs, Torrent has launched baricitinib during the quarter and is currently conducting clinical trials for molnupiravir; more partnerships are under evaluation to widen covid portfolio, it added.

US revenues at Rs 266 crore, were down by 29 percent. Sales were lower due to price erosion in the base business and lack of new approvals pending re-inspection of facilities, Torrent Pharma said.

Revenue for Brazil for the quarter under consideration was at Rs 153 crore, up by 9 percent and Germany revenues were at Rs 260 crore, up by 5 percent, the filing said. Shares of Torrent Pharmaceuticals Ltd closed at Rs 3,003.75 per scrip on BSE, down 2.45 per cent from its previous close.