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Lack of launches may slow Torrent Pharmaceuticals growth rates
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With revenues and profits outpacing analysts’ expectations, Torrrent Pharmaceuticals Ltd’s Q4 figures show the impact of pre-buying in the March quarter.
While this is good, the pace of growth may be slower in the quarters ahead. The stock did not react positively to the good figures and slipped about 5% on slowing growth prospects.
Domestic revenue grew well at about 11%, thanks to pre-stocking in March before the lockdown. Sales in the US did fine, up 3% year-on-year (y-o-y), which again benefited from stocking, while the rest-of-the-world performance has been positive.
Growth in some countries such as Brazil and Germany were a bit disappointing, though. Torrent’s operating parameters were largely due to the fact that kept costs in
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