Torrent Pharma’s revenue dips in Q1 FY 2017-18

Torrent Pharmaceuticals recently posted its Q1 2017-18, where the company recorded a decline in revenue. The revenue in Q1 2017-18 is Rs 1,374 crores as against Rs 1551 crores during the same period last year.

EBIDTA for Q1 FY 2017-18 was at Rs 400 crores as against Rs 462 crores during the same period last year. PAT for Q1 2017-18 was at Rs 188 crores as against Rs 292 crores during the same period last year. Previous period include exceptional revenues and profits which was primarily on account of the launch of a new product in US market, which had limited competition. Research and development spend during the Q1 FY 2017-18 was Rs 101 crores as against Rs 90 crores during the same period last year.

The company’s domestic formulation business recorded revenues of Rs 464 crores for Q1 FY 2017-18 v/s Rs 510 crores for the same period last year. "The Indian pharmaceuticals industry got impacted due to reduction in channel inventory during transition to Goods and Services Act and consequently the India business performance also got impacted during the quarter," the company said.