Torrent Pharma Sees 56% Profit Surge in Q4 Amid Revenue Growth
Torrent Pharmaceuticals Ltd reported a 56.45% increase in consolidated net profit to Rs 449 crore for the March quarter, fueled by higher revenue. India, Brazil, and Germany saw significant growth, while US revenue dipped. The board recommended a final dividend and plans to raise up to Rs 5,000 crore through equity issuance.
- Country:
- India
Torrent Pharmaceuticals Ltd on Friday reported a 56.45 per cent jump in consolidated net profit to Rs 449 crore in the March quarter, riding on higher revenue.
The company had posted a consolidated net profit of Rs 287 crore in the same period of the previous fiscal, Torrent Pharmaceuticals said in a regulatory filing.
Consolidated revenue from operations in the fourth quarter of FY24 stood at Rs 2,745 crore as against Rs 2,491 crore in the year-ago period, it added.
India revenue was at Rs 1,380 crore, up 10 per cent while the same for Brazil was at Rs 372 crore, registering a growth of 17 per cent, and Germany was at Rs 280 crore, up 11 per cent in the quarter, the company said.
On the other hand, US business revenue was at Rs 262 crore, down 6 per cent, it added.
Total expenses in the quarter under review was higher at Rs 2,145 crore as compared to Rs 2,067 crore in the same period a year ago.
Torrent Pharma said its board has recommended a final dividend of Rs 6 per equity share of Rs 5 each, subject to shareholders' approval.
Further, the board has also recommended obtaining an enabling approval from the shareholder to raise up to Rs 5,000 crore through issuance of equity shares, including convertible bonds/debentures through qualified institutional placement (QIP) and or any other modes.
For the fiscal ended March 31, 2024 consolidated net profit was at Rs 1,656 crore as compared to Rs 1,245 crore in the previous year, the company said.
Consolidated revenue from operations in FY24 stood at Rs 10,728 crore as compared to Rs 9,620 crore in FY23.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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