Torrent Pharma Reports 21% PAT Growth in Q1 2024

Torrent Pharma reported a 21% year-on-year increase in profit after tax to Rs 457 crore for the first quarter of 2024, driven by strong performance in the domestic market. Revenue rose to Rs 2,859 crore. Shares increased by 3.58% on the BSE, closing at Rs 3,137.15.

Torrent Pharma has announced a significant 21% year-on-year increase in profit after tax (PAT), reaching Rs 457 crore for the first quarter ending June 30, 2024. This growth is attributed to robust performance in the domestic market.

In comparison, the drug maker had reported a PAT of Rs 378 crore in the same quarter of the previous fiscal year. Revenue for the first quarter also saw an increase, standing at Rs 2,859 crore, up from Rs 2,591 crore in the corresponding period of the last year.

The company's India revenues surged 15% year-on-year to Rs 1,635 crore, mainly due to strong performance in focus therapies. Consequently, shares of Torrent Pharma rose 3.58% to close at Rs 3,137.15 apiece on the BSE on Tuesday.