Torrent Pharma’s net profit in Q4 jumps 56% y-o-y to ₹449 Crore

27 May 2024 , 11:37 AM

Torrent Pharmaceuticals Ltd on Friday reported a 56.45% increase in consolidated net profit to ₹449 Crore in the March quarter, owing to higher revenue. Torrent Pharmaceuticals reported a consolidated net profit of ₹287 Crore for the same time in the previous fiscal year, according to a regulatory filing.

Consolidated revenue from operations in Q4FY24 was reported at ₹2,745 Crore, up from ₹2,491 Crore the previous year, the company said. According to the company, India’s sales was ₹1,380 Crore, up 10%, Brazil’s was ₹372 Crore, up 17%, and Germany’s was ₹280 Crore, up 11% in the quarter.

In contrast, US business income was ₹262 Crore, a 6% decrease, according to the report.

Total expenses for the quarter under review were ₹2,145 Crore, up from ₹2,067 Crore in the same time last year.

Torrent Pharma announced that its board has recommended a final dividend of ₹6 per equity share of ₹5 each, subject to shareholder approval.

Furthermore, the board has suggested obtaining shareholder permission to raise up to ₹5,000 Crore by the issuing of equity shares, including convertible bonds/debentures via qualified institutional placement (QIP) and/or any other means.

The total net profit for the fiscal year ended March 31, 2024 was ₹1,656 Crore, up from ₹1,245 Crore the previous year, according to the business.

In FY24, consolidated operating revenue stood at ₹10,728 Crore, up from ₹9,620 Crore in FY23.

At around 10.33 AM, Torrent Pharma was trading 3.39% higher at ₹2,701.10 per piece, against the previous close of ₹2,612.55 on NSE. The counter touched an intraday high and low of ₹2,795, and ₹2,680.60, respectively.

For feedback and suggestions, write to us at [e-mail]

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/