Torrent Pharma at new life time high

Torrent Pharma hit a new life time high today at Rs.1520 with a spike up in volumes by over six times. And the reason for this euphoria on the counter was its exuberant Q1FY16 numbers.

On a consolidated total income of Rs.1947 crore, up 75% (YoY), the company posted an almost equal 75% jump up in net profit at Rs.449 crore. EBITDA showed a major jump – up almost 3 times from Rs.345 crore to Rs.909 crore. Margins came in very healthy at 46.7% v/s 31%. Thus all around, it has been a fantastic performance.

The company has attributed this exceptional performance to launch of a new product in the US market, which currently has limited competition. Its generic revenue from US operations for the quarter showed a whopping 231% growth. And in India, domestic formulations business recorded growth of 39%. The continuation of this is dependent on competitive market conditions.