Torrent Pharma Q3 Results FY2023, PAT at Rs. 283 crores

On 25th January 2023, Torrent Pharma announced its results for the third quarter of FY2023.

Key Highlights:

- Revenue at Rs. 2,491 crores up by 18%.  
- Gross margins was reported at 71%
- Operating EBITDA margins stood at 29.1%. 
- Operating EBITDA at Rs. 724 crores was up by 35% 
- Net profit after tax at Rs. 283 crores was up by 13.7%.

Business Highlights:

- India revenues at Rs 1,259 crores grew by 17% and included revenue from the integration of Curatio Healthcare. As per AIOCD secondary data, Torrent’s growth for the quarter was 12% vs IPM growth of 12%
- Brazil's revenue at Rs 248 crores, was up by 36%.  Constant currency revenue at R$ 159 million was up by 17%. Growth was aided by the performance of top brands and market share gain and strong momentum in the generic segment.
- Germany's revenue at Rs 241 crores was up by 1%. Constant currency revenue was Euro 29 million, up by 4%. Sequential recovery in Germany was complemented by new tenders and growth of the OTC segment. 
- US revenue at Rs 291 crores, was up by 24%.  Constant currency revenue at $35 million was up by 13%.  As of December 31, 2022, 48 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 1 ANDAs was filed & 1 ANDAs was approved.