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 drug maker has issued commercial papers (CPs) for an amount of Rs 100 crore on 15 December 2020.
The unsecured CPs will mature on 11 June 2021 (i.e. 178 days) and hold an interest rate of 4% p.a.
Shares of Torrent Pharmaceuticals were down 0.46% to Rs 2,776.
Torrent Pharmaceuticals consolidated net profit jumped 27% to Rs 310 crore on a 0.9% rise in net sales to Rs 1,985 crore in Q2 September 2020 over Q2 September 2019.
Torrent Pharmaceuticals 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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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)