Torrent Pharma registers 29 per cent rise in sales

Ahmedabad, May 23 (UNI) Ahmedabad-based pharma major Torrent Pharmaceuticals has reported a 29 per cent rise in sales at Rs 1,292 crore as against Rs 1,001 crore previous year.

Torrent, in a release here, said that consolidated sales outside India has shown a rise of 43 per cent from Rs 431 crore in the previous fiscal to Rs 615 crore during the year.

Continued impressive performances in Brazil and Russia coupled with improved sales from Heumann Pharma GmbH&Co Generica KG, Germany (Heumann), were the major drivers of this growth. The share of international sales in consolidated sales increased to 47 per cent from 43 per cent in the previous year. The domestic formulation business registered sales of Rs 557 crore as against sales of Rs 444 crore during the previous year, a 25 per cent growth.

Consolidated operating profits (PBDIT) were at a historic high of Rs 156 crore, 44 per cent rise from the previous year. Consolidated net profit for the year jumped by 84 per cent at Rs 94 crore as against Rs 51 crore during the previous year, partly benefiting from the exceptional charge of last year. The growth in net profit was also driven by strong profitability in domestic and Brazil business, the release said.

For the quarter ended March 2007, the consolidated sales of the company grew by 36 per cent to Rs 337 crore from Rs 248 crore in the corresponding period last year on the back of a robust growth of 49 per cent in international sales. This was further aided by 33 per cent growth in the domestic formulation business. Consolidated operating profits (PBDIT) of Rs 45 crore grew by more than 200 per cent vis-a-vis Rs 14 crore recorded in the corresponding quarter last year.

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