Torrent Pharmaceuticals Q2 FY27 Results: Consolidated Net Profit ₹534 Crore on Total Income of ₹4,969 Crore
Earnings
pharmaceuticals
Blacklitt Research4 min read
Torrent Pharmaceuticals reported consolidated total income of ₹4,969.00 crore and net profit of ₹534.00 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹4,134.00 crore and net profit of ₹498.00 crore, it said in a filing on 23 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹4,969.00 crore, up 51.7% YoY and 1.2% QoQ
Net profit and EPS: ₹534.00 crore, down 9.6% YoY; basic EPS ₹14.05 against ₹17.45
Finance costs: ₹300.00 crore, against ₹48.00 crore a year earlier
Exceptional item: ₹10.00 crore litigation settlement in the quarter
Standalone
The company on its own, without its subsidiaries
Total income: ₹4,134.00 crore, up 51.2% YoY and down 0.1% QoQ
Net profit and EPS: ₹498.00 crore, down 16.6% YoY; basic EPS ₹13.09 against ₹17.64
Finance costs: ₹287.00 crore, against ₹37.00 crore a year earlier
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
4,969.00
3,275.00
+51.7%
4,909.00
+1.2%
Revenue from operations
4,979.00
3,302.00
+50.8%
4,921.00
+1.2%
Other income
-10.00
-27.00
+63.0%
-12.00
+16.7%
534.00
591.00
-9.6%
566.00
-5.7%
Finance costs
300.00
48.00
+525.0%
305.00
-1.6%
Depreciation
609.00
204.00
+198.5%
593.00
+2.7%
Tax expense
203.00
200.00
+1.5%
167.00
+21.6%
Net profit margin
10.75%
18.05%
-7.30 pp
11.53%
-0.78 pp
Tax as share of profit before tax
27.5%
25.3%
+2.26 pp
22.8%
+4.76 pp
EPS, basic (₹)
14.05
17.45
-19.5%
14.87
-5.5%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income rose 51.7% year on year to ₹4,969.00 crore, but consolidated net profit fell 9.6% to ₹534.00 crore and profit before tax fell 6.8% to ₹737 crore. Tax expense of ₹203.00 crore was 27.5% of profit before tax, against 25.3% a year earlier, and the net profit margin narrowed from 18.05% to 10.75%. The year-ago quarter ended before 21 Jan 2026, the date from which the company says it controlled JB Pharma, so the comparison sets a period without JB Pharma against one with it.
Finance costs rose to ₹300.00 crore from ₹48.00 crore, 6.25 times the year-ago figure, and depreciation rose to ₹609.00 crore from ₹204.00 crore. The filing does not split these increases between the JB Pharma acquisition and other causes. The year-ago quarter carried ₹13 crore of exceptional items that the notes tie to regulatory and statutory fees on the JB Pharma acquisition and merger, while this quarter's ₹10.00 crore exceptional item is a litigation settlement.
Revenue from operations of ₹4,979.00 crore is 50.8% above the year-ago figure, while other income was negative at ₹-10.00 crore. The press release puts the base business at ₹3,893 crore, up 18%, and the JB business at ₹1,086 crore. It says the JB business revenue had a transient impact after the merger, during integration of the India business, network optimisation and alignment of manufacturing and quality systems. Germany revenues fell 7% to ₹283 crore, which the release attributes to supply disruption at a third-party supplier and loss of certain high volume tenders.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
4,134.00
2,735.00
+51.2%
4,137.00
-0.1%
Revenue from operations
4,145.00
2,762.00
+50.1%
4,158.00
-0.3%
Other income
-11.00
-27.00
+59.3%
-21.00
+47.6%
498.00
597.00
-16.6%
492.00
+1.2%
Finance costs
287.00
37.00
+675.7%
293.00
-2.0%
Depreciation
587.00
189.00
+210.6%
575.00
+2.1%
Tax expense
178.00
209.00
-14.8%
171.00
+4.1%
Net profit margin
12.05%
21.83%
-9.78 pp
11.89%
+0.15 pp
Tax as share of profit before tax
26.3%
25.9%
+0.40 pp
25.8%
+0.54 pp
EPS, basic (₹)
13.09
17.64
-25.8%
12.94
+1.2%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income rose 51.2% to ₹4,134.00 crore, while net profit fell 16.6% to ₹498.00 crore and profit before tax fell 16.1% to ₹676 crore. Tax was 26.3% of profit before tax against 25.9% a year earlier, a rise of 0.40 percentage points, so most of the fall in profit arises before tax.
Finance costs rose to ₹287.00 crore from ₹37.00 crore and depreciation to ₹587.00 crore from ₹189.00 crore. Against the quarter before, standalone net profit rose 1.2% to ₹498.00 crore while consolidated net profit fell 5.7%. Consolidated net profit is ₹36.00 crore higher than standalone, and the standalone statements were audited with no qualification in the auditor's report.
Inference
Consolidated basic EPS of ₹14.05 against ₹17.45 a year earlier implies about 38.01 crore shares when ₹534.00 crore is divided by it, which is consistent with paid-up equity capital of ₹190.18 crore at ₹5 face value after the 4,19,22,416 shares allotted on 20 Jul 2026. Dividends paid in the half year were ₹381 crore against ₹203 crore a year earlier, and listed non-convertible debentures of ₹10,990 crore are secured with security cover above 110%. Consolidated debt equity is 0.76 times.
Other income is negative in every period shown, and the filing does not explain why. The filing also does not give the amount of stamp duty payable on the amalgamation, which is pending adjudication and is not in the results, nor the value of the insurance claim against the ₹19 crore fire-related inventory write-off, which is under assessment.
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TORNTPHARMTorrent Pharmaceuticals Ltd.