On a consolidated basis, the drug maker's net profit jumped 18.3% to Rs 297 crore on a 2.5% increase in net sales at Rs 1,972 crore in Q3 December 2020 over Q3 December 2019.
Total revenues rose 1% to Rs 1,995 crore in Q3 FY21 as against Rs 1,966 crore in Q3 FY20. Gross margins were at 72% and operating EBITDA margins were at 30%.
Profit before tax (PBT) surged 11.9% to Rs 357 crore in Q3 December 2020 as against Rs 319 crore in Q3 December 2019. Tax expense for the quarter soared 11.9% to Rs 75 crore as against Rs 67 crore paid in Q3 December 2019. The Q3 result was declared after market hours yesterday, 8 February 2021.
Gross profit rose 1% to Rs 1,433 crore in Q3 FY21 over Rs 1,424 crore in Q3 FY20. Operational EBITDA jumped 12% to Rs 607 crore in Q3 FY21 as against Rs 540 crore in Q3 FY20 driven by cost efficiencies. R&D spend grew 2% to Rs 112 crore in Q3 FY21 from Rs 110 crore in Q3 FY20.
The company's India revenues grew by 7% to Rs 930 crore in Q3 FY21 as compared to Rs 871 crore in Q3 FY20. As per AIOCD data set, Q3 FY21 growth was at 8% as against IPM growth of 6%. The growth was driven by market recovery, continued momentum in chronic brands & strong recovery in sub‐chronic brands. Post portfolio restructuring, MR strength now stands at 3,800 and PCPM for the quarter was at Rs 8.1 lakh. The board approved an interim dividend of Rs 20 per equity share.
Shares of Torrent Pharmaceuticals slumped 6.14% to Rs 2,588.95. The company 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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