On a consolidated basis, the drug maker's net profit jumped 27% to Rs 310 crore on 0.9% increase in net sales to Rs 1,985 crore in Q2 September 2020 over Q2 September 2019.
Profit before tax (PBT) soared 29.7% to Rs 384 crore in Q2 September 2020 as against Rs 296 crore in Q2 September 2019. Total tax expense for the quarter rose 42.31% to Rs 74 crore as against Rs 52 crore in Q2 September 2019. The Q2 result was declared after trading hours yesterday, 26 October 2020.
EBITDA galloped 12% to Rs 641 crore in Q2 FY21 as against Rs 573 crore in Q2 FY20, driven by recovery in India and productivity gains. EBITDA margin improved to 32% in Q2 FY21 from 12% in Q2 FY20.
Gross profit fell marginally 0.27% to Rs 1,463 crore (margins at 73%) in Q2 FY21 as against Rs 1,467 crore (margins at 73%) in Q2 FY20. Research & Development (R&D) spend slipped 8% to Rs 119 crore in Q2 FY21 as against Rs 130 crore in Q2 FY20.
In India, the sub-chronic and acute segments witnessed gradual recovery during the quarter while chronic momentum continued. Field Force productivity (PCPM) for the quarter stood at Rs 8 lakh with an MR strength of 4,000.
Globally, US revenues declined 14% Y-o-Y (year-on-year) to Rs 327 crore in Q2 FY21, Brazil revenues skid 18% Y-o-Y to Rs 129 crore in Q2 FY21 while Germany revenues advanced 4% Y-o-Y to Rs 261 crore in Q2 September 2020.
Shares of Torrent Pharmaceuticals declined 2.84% to Rs 2,579 on BSE. Torrent Pharmaceuticals, is the flagship company of the Torrent Group. Torrent Pharma is amongst the top 5 in the therapeutics segments of Cardiovascular (CV), Central Nervous System (CNS), Gastro intestinal (GI), and Vitamins Minerals Nutritionals (VMN).
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