Ahmedabad-based Torrent Pharmaceuticals posted a 14 per cent rise in net profit for the third quarter of the 2022-23 fiscal to Rs 249 crore on the back of good growth in the India and Brazil markets.
Torrent Pharma’s revenues came in at Rs 2,491 crore for the quarter under review. The Ebitda margins were at 29.1 per cent while gross margins were 71 per cent during Q3FY23.
India, Torrent’s key market, grew by 17 per cent to Rs 1,259 crore including revenues from the integration of its recently acquired outfit Curatio Healthcare (a dermatology firm). “Field force has been further expanded and medical representative strength now stands at 5,300 including Curatio divisions,” the company said.
Meanwhile, the Brazil revenues were up 36 per cent to Rs 248 crore. In constant currency terms, however, the revenues from Brazil were up 17 percent. The growth was aided by the performance of top brands and market share gain and strong momentum in the generic segment.
Torrent Pharma’s US revenues were up by 24 per cent during the quarter to Rs 291 crore, while in constant currency terms, it was up 13 per cent.