India’s Torrent Pharma (TORP.NS), opens new tab reported a 20% jump in its first-quarter profit on Monday, driven by demand for drugs used to treat long-term conditions.
The firm’s consolidated net profit rose to 5.48 billion rupees ($63.2 million) for the quarter ended June 30, from 4.57 billion rupees year ago.
Torrent Pharma, which makes drugs for treating conditions such as diabetes, infections, and cancer, continued to benefit from strong domestic demand for these medicines.
Revenue from India, which contributed around 56% to the total, jumped 11% from a year earlier. This was led by strong demand for Torrent’s therapies such as cardiovascular, gastro-intestinal and anti-infectives.
Diabetes, which is one of Torrent’s key therapy areas, led demand in the Indian pharmaceutical market, which grew 8% in June, according to data from India Ratings and Research.
