Torrent Pharma Q3 PAT down -16.16% at Rs249cr on higher pricing pressures and US shutdown

27 Jan 2022 , 01:28 PM

Torrent Pharma Ltd reported 5.66% growth yoy in total revenues for the Dec-21 quarter on consolidated basis at Rs2,108cr. On a sequential basis, the revenues were lower for the quarter by -1.36%.

During the quarter, India revenues grew 15% at Rs1,072cr while Brazil revenues grew 5% at Rs183cr. US revenues were down 2% at Rs435cr on delays in re-inspection post-pandemic and pricing pressures in the US.

German revenues were down 1% at Rs237cr. Nearly 75% of revenues are from India; from chronic and sub-chronic categories.

The consolidated Profit after tax (PAT) for the Dec-21 quarter was down -16.16% at Rs249cr on pressure on top line and bottom line in the US business.

EBITDA was down 55 at Rs585cr. EBITDA margins came in at 28% for the quarter. Gross margins stood at 70% in the quarter. R&D spend at Rs123cr or nearly 6% of sales. US sales saw pressure due to pricing pressure and delays in re-inspection.

Net margins tapered from 14.89% in the Dec-20 quarter to 11.81% in the Dec-21 quarter. Net margins were also lower sequentially.

Financial highlights for Dec-21 compared yoy and sequentially

	Torrent Pharma
Rs in Crore	Dec-21	Dec-20	YOY	Sep-21	QOQ
Total Income (Rs cr)	₹ 2,108.00	₹ 1,995.00	5.66%	₹ 2,137.00	-1.36%
Net Profit (Rs cr)	₹ 249.00	₹ 297.00	-16.16%	₹ 316.00	-21.20%
Diluted EPS (Rs)	₹ 14.75	₹ 17.52		₹ 18.63
Net Margins	11.81%	14.89%		14.79%