Ahmedabad: Ahmedabad based Pharmaceuticals major, Torrent Pharmaceuticals Limited, has registered a drop of over 22 % in its net profit during the third quarter of the current fiscal with a figure of Rs 229 crores as against Rs 290 crores during the same period last year.

The high lights of the Q3 financial result of the company released today is as following –

For Q3 FY 2016-17 revenues were at Rs. 1443 crores as against Rs. 1542 crores during the same period last year.

EBIDTA for Q3 FY 2016-17 was at Rs. 365 crores as against Rs. 672 crores during the same period last year.

PAT for Q3 2016-17 was at Rs. 229 crores as against Rs.290 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 quarter was up by Rs. 36 crores, from Rs. 59 crores in the same period previous year to Rs. 95 crores.

Company declared an interim dividend of 200 percent. (Rs. 10/- per share).

India Business

Domestic formulation business recorded revenues of Rs. 503 crores for Q3 FY 2016-17 v/s Rs. 449 crores for the same period last year, showing 12% growth.

USA

US business recorded revenues of Rs. 310 crores for Q3 FY 2016-17 v/s Rs. 558 crores for the same period last year.

Previous period include exceptional revenues, primarily on account of the launch of a new product which had limited competition.

Germany

German business recorded revenues of Rs. 203 crores for Q3 FY 2016-17 v/s Rs. 164 crores for the same period last year, showing 24% growth.

Brazil Business

Brazilian business recorded revenues of Rs. 159 crores for Q3 FY 2016-17 v/s Rs. 118 crores for the same period last year, showing 35% growth.

DeshGujarat