Torrent Pharmaceuticals Limited on Tuesday posted profit at Rs 287 crore for the fiscal fourth quarter in comparison to a loss of Rs 118 crore in the corresponding quarter of last year. It posted revenue from operations at Rs 2491 crore, up 16.9 per cent as against Rs 2131 crore in the fourth quarter of FY22. The company EBITDA stood at Rs 727 crore, up 30 per cent on-year. While the total income for the quarter was at Rs 2500 crore, total expenses during the period was at Rs 2067 crore.
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|Results||Q4 FY23||Q4 FY22||YoY%||FY23||FY22||YoY%|
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(*includes Rs. 10 cr one-off charge)
- India revenue at Rs 1,257 crores grew by 22%
- As per AIOCD secondary data, Torrent’s growth for the quarter was 12% vs IPM growth of 11%. Torrent is now the 6th largest company in the IPM as per MAT March 2023 data.
- Robust growth aided by strong performance of new launches in chronic therapies and integration of Curatio
- Consumer Healthcare platform was launched during the quarter with a dedicated trade field force to augment distribution
- For FY23, revenue was Rs 4,984 crores, up by 16%.
· Brazil revenue at Rs 318 crores, was up by 27%.
· Constant currency revenue at R$ 201 million was up by 17%.
- As per secondary data set, Torrent’s growth is 24% versus BGx market growth of 12% for the quarter ended Mar’23.
- Growth was complemented by strong underlying market growth, new launches and growth of generic segment.
- For FY23, revenue was Rs 935 crores, up by 26% (Constant currency revenue: R$ 598 million, up by 13%).
- Torrent continues to strengthen its pipeline with 14 filings and 12 approvals during the year.
- Germany revenue at Rs 253 crores was up by 16%.
- Constant currency revenue was Euro 29 million, up by 11%.
- Growth was driven new tenders win and growth of OTC segment.
- For FY23, revenue was Rs 928 crores, down by 4% (Constant currency revenue: Euro 111 million).
- US revenue at Rs 280 crores, was down by 1%.
- Constant currency revenue at $34 million was down by 9%.
- Growth was impacted by price erosion on base portfolio and lack of new launches pending inspection of facilities.
- As on March 31, 2023, 46 ANDAs were pending approval with USFDA and 3 tentative approvals were received. During the quarter, 3 ANDAs were filed & 2 ANDAs were approved.
- For FY23, revenue was Rs 1,162 crores, up by 9% (Constant currency revenue: $145 million, up by 1%).