Torrent Pharma Revenue Drops 11% To Rs 1374
Ahmedabad-based Pharmaceuticals major, Torrent Pharmaceuticals on Monday (31 July 2017) announced its financial results for the first quarter ended 30 June 2017.
The revenues for FY 2017-2018 for Q1 clocked Rs 1,374 crore (11.41 per cent) as against Rs 1,551 crore during the same period last year. EBIDTA for Q1 FY 2017-18 has seen at Rs 400 crore as against Rs 462 crore during the same period last year.
PAT (Profit After Tax) for Q1 2017-18 was seen decreasing at Rs 188 crores as against Rs 292 crores during the same period last year. The previous period includes exceptional revenues and profits which were primarily on account of the launch of a new product in US market, which had limited competition.
However, spending in Research and development increased during the Q1 FY 2017-18 was Rs 101 crore as against Rs 90 crore during the same period last year.
Domestic formulation business of Torrent recorded revenues of Rs 464 crore for Q1 FY 2017-18 compared to Rs 510 crore for the last year. The Indian pharmaceuticals industry got impacted due to the reduction in channel inventory during the transition to Goods and Services Act and consequently, the India business performance also got impacted during the quarter.
Meanwhile, Brazilian business recorded revenues of Rs 181 crore for Q1 FY 2017-18 Vs Rs 167 crore for the same period last year, showing 8 per cent growth. US business recorded revenues of Rs 272 crore for Q1 FY 2017-18 v/s Rs 434 crore for the same period last year.
The previous period includes exceptional revenues, primarily on account of the launch of a new product which had limited competition. German business recorded revenues of Rs 202 crore for Q1 FY 2017-18 against Rs 187 crore for the same period last year, also showing 8 per cent growth.
