Ahmedabad-based pharma major, Torrent Pharmaceuticals limited, today released its financial results for the quarter (Q1) ended 30th June, 2011. The Q1 revenues stood at Rs. 647 crores, up by 20% from Rs. 541 crores of the comparable quarter last year.
During Q1, domestic formulation business recorded revenues of Rs. 246 crores, growing 10% on account of lower sales growth in acute therapies. International revenues grew by 19% to Rs. 319 crores. Brazil business posted revenues of Rs. 107 crores with a growth of 21%. Operations in Germany-based Heumann registered impressive performance with revenue growth of 20%. US operations posted a revenue growth of 56%. While the Europe (other than Heumann), Russia & CIS and Rest of the world operations grew by 2%, Contract manufacturing business recorded revenues of Rs. 78 crores with a growth of 74%. Contract manufacturing income includes Rs. 17 crores on account of dossier development & licensing fee which is non-recurring in nature.
Operating profits (PBDIT) for the quarter stood at Rs. 153 crores (P.Y. Rs. 112 crores) showing a growth of 37%. Net profit for the quarter was Rs. 103 crores compared to Rs. 74 crores during the same period last year.
Significant investment in product development is being made to support the build-up of US, Europe and Brazil operations. The total revenue expenditure on R&D was 5.1% of consolidated net sales and operating income.
About Torrent Pharma: Torrent Pharma, with an annual turnover of over Rs. 2200 crores is the flagship company of the Torrent Group. With many of its products ranking among the Top 200 brands, Torrent continues to be at the forefront of the Indian pharmaceutical industry through research, innovation and breakthrough discoveries in the therapeutics areas of Diabetology, Cardiovascular, Central Nervous System, Gastro-Intestinal, Anti-infective, Pain management and Gynecology. Its Research Center employs over 773 scientists in the areas of drug discovery and development. Currently, Torrent has various discovery projects in pipeline. It has filed 426 patents for NCE’s in all major markets worldwide, of which 199 patents have been granted so far. Torrent’s manufacturing plant at Chhatral has a capacity to manufacture approx. 5500 million tablets, capsules and vials and 60,000 kgs. of Bulk Drugs/API. The facility has already been approved by authorities from regulated markets like US, UK, Germany, Australia and South Africa. The manufacturing plant at Baddi has a capacity to manufacture 3,800 million tablets, 400 million capsules, 18 million oral liquid bottles and 12 million sachets per annum. The company also commissioned a new facility at Sikkim having a capacity of 3,900 million tablets.
Torrent Pharmaceuticals Limited is an India-based pharmaceutical company. The Company is focused on various therapeutic segments, such as cardiovascular (CV), central nervous system (CNS), gastrointestinal (GI), vitamins minerals nutrients (VMN), anti-diabetes (AD), pain, gynecology, and dermatology. The Company is engaged in research, development, manufacturing, marketing and distribution of branded and generic pharmaceutical formulations in India and internationally. Its pediatric product brands include Tedibar, Atogla, Spoo and B4 Nappi. Its acne/facecare products brands include Clinmiskin, ACNEMOIST, TRACNILO and fash. The Company's hair/scalp care products brands include Proanagen, Perlice, Permite and NOSKURF. Its manufacturing facilities are located in the states of Gujarat, Himachal Pradesh, Madhya Pradesh, Andhra Pradesh and Sikkim. The Company's primary channel of distribution is through the wholesale drug distributors, stockiest and retail pharmacies.
TORRENT PHARMACEUTICALS LIMITED 
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