Torrent Pharmaceuticals Limited on Tuesday posted profit at Rs 287 crore for the fiscal fourth quarter in comparison to a loss of Rs 118 crore in the corresponding quarter of last year. It posted revenue from operations at Rs 2491 crore, up 16.9 per cent as against Rs 2131 crore in the fourth quarter of FY22. The company EBITDA stood at Rs 727 crore, up 30 per cent on-year. While the total income for the quarter was at Rs 2500 crore, total expenses during the period was at Rs 2067 crore.
The Board also recommended a final dividend of Rs 8 (160 per cent) per equity share of Rs 5 each. “The final dividend amount, if declared by the shareholders, is proposed to be paid/ dispatched on or around 14th August, 2023. Earlier, an interim dividend of Rs 14 (280 per cent) per equity share was paid during the last quarter,” it said in a regulatory filing.
Torrent Pharma’s performance across markets
Torrent Pharma’s India business recorded revenue at Rs 1257 crore, up 22 per cent. “As per AIOCD secondary data, Torrent’s growth for the quarter was 12 per cent vs IPM growth of 11 per cent,” it said. The company said that the growth was aided by strong performance of new launches in chronic therapies and integration of its brand, Curatio. Further, Torrent Pharma had also launched a consumer healthcare platform during the quarter with a dedicated trade field force to augment distribution.
Its Brazil business posted revenue at Rs 318 crore, up 27 per cent on-year. The growth was complemented by strong underlying market growth, new launches and growth of the generic segment. Torrent strengthened its pipeline with 14 filings and 12 approvals during the year.
In Germany, Torrent Pharma posted revenue at Rs 253 crore, up 16 per cent YoY and the growth was driven by new tender wins and growth of OTC segment.
Further, the US business revenue was at Rs 280 crore, down 1 per cent. The growth was impacted by price erosion on base portfolio and lack of new launches pending inspection of facilities, the company said. “As on March 31, 2023, 46 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 3 ANDAs were filed and 2 ANDAs were approved,” it said.