Indian drugmaker Torrent Pharma posts lower quarterly profit on acquisition costs

May 22 (Reuters) – Indian drugmaker Torrent Pharmaceuticals reported a 21.9% fall in fourth-quarter profit on Friday, as acquisition-related costs from its deal with J.B. Chemicals and Pharmaceuticals offset strong revenue growth.

• Consolidated net profit fell to 3.89 billion rupees ($40.65 million) for the quarter ended March 31, from 4.98 billion rupees a year earlier

• The company declared a dividend of 9 rupees per share

• Total revenue from operations rose 41.8% year-on-year to 41.97 billion rupees, supported by growth in its domestic formulations business

• Total expenses rose nearly 60%, outpacing revenue growth, led by higher employee, finance, and depreciation costs

• The drugmaker incurred exceptional costs related to regulatory fees and integration expenses tied to the J.B. Pharma deal

• Revenue from India, the company’s largest market, grew 43% year-on-year, driven by strong performance in chronic therapies

• Revenue from the U.S. rose 31%, while revenue from Brazil increased 30%, supported by recent product launches

• Operational EBITDA margin stood at 32.3%, compared with 33% a year ago

($1 = 95.6900 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru; Editing by Mrigank Dhaniwala)