- Revenue & profitability:
Revenue at Rs. 2,859 crores grew by 10%
Gross Margin: 75.7%, Op. EBITDA margin at 31.6%, Growth: 14%
Net Profit after tax at Rs. 457 crores, up by 21%
Other expenses include one-off expenses of Rs. 20 crores (in international business)
Adjusted for such one-off expenses, the underlying Op. EBITDA is Rs. 924 crores and Op. EBITDA margin at 32.3%
- Performance summary:
- India:
India revenues at Rs 1,635 crores were up by 15% led by outperformance in focus therapies.
As per AIOCD secondary market data, IPM growth for the quarter was 8%.
Torrent’s chronic business grew at 14% vs IPM growth of 8%, driven by strong revival in cardiac divisions and
continued traction in anti-diabetes (OAD) new launches.
Torrent has entered into a non-exclusive licensing agreement with Takeda and commercialized Vonoprazan during the quarter.
- Brazil:
Brazil revenues at Rs 196 crores, were up by 3%.
Constant currency revenues at R$ 123 million, were up by 8%.
As per IQVIA QTD May 24, Torrent growth at 12% vs market growth of 11%.
Primary sales were impacted by severe floods in the province of Rio Grande do Sul in April and May 2024.
During Q1, we received Anvisa approval for three new products including Lisdexanfetamine.
Lisdexanfetamine is a 760 million BRL market and Torrent expects to be in the first wave of branded
generic launches in Q2 24-25.
Torrent has currently nineteen products under ANVISA review
- Germany:
Germany revenues at Rs 284 crores, were up by 10%.
Constant currency revenues at Euro 32 million, were up by 9%.
Growth momentum continues with incremental tender wins since last five quarters. Recent wins will start generating incremental sales from Q2 onwards.
- United States:
US business revenues at Rs 259 crores, were down by 12%.
Constant currency revenues at $31 million, were down by 13% compared to same period in the previous year. Sequential quarter sales were at a similar level.
Adjusted for one off income in Q1 23-24, constant currency de-growth at 9%
