Torrent Pharma is among the top three gainers on the BSE since opening bell on the back of its great performance for Q1FY20.
The company posted a a very good 33% (YoY) rise in consolidated net profit at Rs.216 on robust 8% revenue growth at Rs.2022 crore, led by 9% growth in Indian revenue, 13% rise in US, 4% increase in Germany and 3% rise in Brazil.
During the quarter, it saw three abbreviated new drug applications (ANDAs) being filed, with total 34 ANDAs pending approval and 11 tentative approvals being received as on June 30, 2019.
TPL has 8 manufacturing facilities (7 in India & 1 in US}, of which 5 are USFDA approved. With R&D as backbone for its growth in domestic & overseas market, it has invested significantly in R&D capabilities with state-of-the-art R&D infrastructure employing around 800 scientists. The company spent Rs 136 crore in R&D in Q1FY20 v/s Rs.128 crore (YoY).