According to the BSE filing from drug firm, Torrent Pharmaceuticals, the company reported a rise in net profit by 49% in the quarter ended June. Last year in the same quarter, net profit was amassed to be Rs 216 crore as compared to Rs 321 crore in this quarter. The change in net profit is slightly better than what the market analyst estimated.

Q1 FY21Q4 FY20Q1 FY20QoQYoY
Net Profit3213142162.2%48.6%
Value in Crore Rupees

As the quarter came to an end, 47 abbreviated new drug applications (ANDAs) are still pending for approval in the US. Quarter revenues in Germany fell by 6% to Rs 246 crore due to a fall in demand for a few products.

Their depreciation amount was equivalent to what was last year but the expenses for raw material decreased significantly from Rs 376 crore to Rs 343 crore. These lower expenses helped them to boost their bottom line (net profit) even after a minimal YoY increase in total revenue.

During the pandemic, the Pharma sector is one of the sectors which is witnessing a huge demand for shares. In the hope of making a vaccine, the investors are readily investing in the pharma stocks to gain capital appreciation in the foreseeable future. Torrent Pharmaceuticals is no different. Its stock price has gained over 58% in the last year.

After the announcement of results, shares of the company rose by 9.27% before closing at Rs 2,663.85.