Torrent Pharma surges ~5% on posting robust performance in Q4FY23

31 May 2023 , 02:19 PM

Torrent Pharma Limited’s counter jumped as much as 5% in today’s trade following the company’s announcement of results for the quarter and financial year ended March 31, 2023.

The company has registered a 17% y-o-y growth in its net revenue at Rs 2,491 crore in Q4FY23, against Rs 2,131 crore in the previous corresponding quarter.

During the quarter under review, the company reported an EBITDA of Rs 727 crore, up by 30% y-o-y, compared to Rs 561 crore in the previous corresponding quarter.

At around 2.10 PM, Torrent Pharma was trading at Rs 1800.95 apiece, up by 5.10% against the previous close of Rs 1713.55 on NSE. The counter hit an intraday high of Rs 1,850.

Torrent Pharma reported a net profit of Rs 287 crore in Q4FY23, compared to a net loss of Rs 118 crore in Q4FY22.

During the fiscal year FY23, revenue increased by 13% year-on-year to Rs 9,620 crore, up from Rs 8,508 crore in the previous fiscal year.

Its EBITDA increased by 17% y-o-y to Rs 2,842 crore from Rs 2,431 crore. The company reported a 60% y-o-y jump in its net profit to Rs 1,245 crore in FY23 compared to Rs 777 crore in the previous financial year.

The company’s board of directors has announced a final dividend of Rs 8 per share.

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