Torrent Pharmaceuticals Ltd posts consolidated PAT of Rs. 310 crore in Q2FY21

TORRENT PHARMACEUTICALS LTD. has reported financial results for the period ended September 30, 2020.

Financial Results (Q2 FY20-21) - QoQ Comparison

The company has reported total income of Rs.2023 crores during the period ended September 30, 2020 as compared to Rs.2060 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.310 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.321 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.18.32 for the period ended September 30, 2020 as compared to Rs.18.98 for the period ended June 30, 2020.

Financials	Q2 FY20-21	Q1 FY20-21	% Change
Total Income	₹ 2023 crs	₹ 2060 crs	-1.8%
Net Profit	₹ 310 crs	₹ 321 crs	-3.43%
EPS	₹ 18.32	₹ 18.98	-3.48%

Financial Results (Q2 FY20-21) - YoY Comparison

The company has reported total income of Rs.2023 crores during the period ended September 30, 2020 as compared to Rs.2039 crores during the period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.310 crores for the period ended September 30, 2020 as against net profit / (loss) of Rs.244 crores for the period ended September 30, 2019.

The company has reported EPS of Rs.18.32 for the period ended September 30, 2020 as compared to Rs.14.48 for the period ended September 30, 2019.

Financials	Q2 FY20-21	Q2 FY19-20	% Change
Total Income	₹ 2023 crs	₹ 2039 crs	-0.78%
Net Profit	₹ 310 crs	₹ 244 crs	27.05%
EPS	₹ 18.32	₹ 14.48	26.52%

Financial Results (6 months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.4083 crores during the 6 months period ended September 30, 2020 as compared to Rs.4081 crores during the 6 months period ended September 30, 2019.

The company has posted net profit / (loss) of Rs.631 crores for the 6 months period ended September 30, 2020 as against net profit / (loss) of Rs.460 crores for the 6 months period ended September 30, 2019.

The company has reported EPS of Rs.37.30 for the 6 months period ended September 30, 2020 as compared to Rs.27.22 for the 6 months period ended September 30, 2019.

Financials	Half-Year Ended FY20-21	Half-Year Ended FY19-20	% Change
Total Income	₹ 4083 crs	₹ 4081 crs	0.05%
Net Profit	₹ 631 crs	₹ 460 crs	37.17%
EPS	₹ 37.30	₹27.22	37.03%

India:

- India revenues at Rs 963 crores grew by 7% versus the IPM growth of 1% for the quarter as per AIOCD

- Sub-chronic and acute segments witnessed gradual recovery during the quarter while chronic momentum continued

- Field Force productivity (PCPM) for the quarter was Rs 8 lakhs with an MR strength of 4,000.

- For H1 FY21, revenues were Rs 1,888 crores, up by 5%.

United States:

- US revenues at Rs 327 crores were down by 14%.

- Constant currency sales were $43 million. Sales continued to be impacted by price erosion on base portfolio and absence of new launches.

- As on September 30, 2020, 47ANDAs were pending approval and 6 tentative approvals were received. 1 ANDA was filed during the quarter.

- For H1 FY21, revenues were Rs 700 crores, down by 8% (Constant currency sales: $90 million).

Brazil:

- Brazil revenues at Rs 129 crores were down by 18%.

- Constant currency sales at R$ 91 million up by 5%. Adjusted for base impact of tender business (reduced focus), the growth is 10%.

- As per IQVIA, Jun-Aug'20 branded generics market growth was 6% versus Torrent growth of 7.8%.

- With unlocking of the economy, Brazil pharma market also witnessed gradual recovery during the quarter. Torrent's performance was aided by its chronic portfolio and market share gain.

- For H1 FY21, revenues were Rs 268 crores, down by 19% (Constant currency sales: R$ 187 million, up by 3%).

Germany:

- Germany revenues at Rs 261 crores were up by 4%
- Constant currency sales were Euro 30 million
- Torrent has largely completed upgradation of its quality management systems
- For H1 FY21, revenues were Rs 507 crores, down by 1% (Constant currency sales: Euro 59 million).

Shares of TORRENT PHARMACEUTICALS LTD. was last trading in BSE at Rs.2654.45 as compared to the previous close of Rs. 2734.35. The total number of shares traded during the day was 23676 in over 2381 trades.

The stock hit an intraday high of Rs. 2773.85 and intraday low of 2644. The net turnover during the day was Rs. 63804283.

Source : Equity Bulls

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