Torrent Pharma hit a lifetime high today at Rs.1720. It has come off this high but remains firmly in the green, up almost 3% at Rs.1650.

The stock is reacting to the Q1FY16 results it announced on 27th July. It showed a good performance. Revenue for the quarter came in 75% (YoY) higher at Rs.1114 crore with net profit showing a whopping 75% jump at Rs.449 crore. EBITDA was at Rs.974 crore, up by a 156%.

The exceptional growth in the revenues and profits for the quarter is primarily on account of the launch of a new product in US market, which currently has limited competition. The continuation of this is dependent on competitive market conditions.

In terms of its India business for branded genrics, domestic formulation business recorded revenues of Rs. 491 crore, up 39%. As per AIOCD, the domestic formulation business growth was 28% compared to covered market growth of 14% for Q1 FY 2015-16. And in USA, genric revenue showed a jaw dropping 231% jump. Clearly, USA has been the growth driver this quarter.

The day the company had announced the Q1 numbers, the stock had hit a new life time high. And today, after over a month, the value buying on the counter has spurred this new high.