Torrent Pharma's Q4 consolidated net profit up 3 pc at Rs 324 crore

Drug firm Torrent Pharma reported a 3.18 per cent rise in its consolidated net profit to Rs 324 crore for the quarter ended March 31, 2021

Drug firm Torrent Pharma on Tuesday reported a 3.18 per cent rise in its consolidated net profit to Rs 324 crore for the quarter ended March 31, 2021 mainly on the back of continued India business recovery momentum, and cost control.

The company had posted a net profit of Rs 314 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to the BSE.

Consolidated revenue from operations of the company stood at Rs 1,937 crore for the quarter under consideration. It was Rs 1,946 crore for the same period a year ago, it added.

For the financial year ended March 2021, net profit of the company was Rs 1,252 crore as against Rs 1,025 crore in 2019-20, Torrent Pharma said.

The revenue from operations for the fiscal year ended March 2021 stood at Rs 8,005 crore. It was Rs 7,939 crore in the previous fiscal year, it added.

India revenues stood at Rs 922 crore for the quarter under consideration, a growth of 10 per cent, the filing said.

The company's board has recommended a final dividend of Rs 15 per equity share of Rs 5 each, Torrent Pharma said.

The board of directors has also "recommended to the members to obtain enabling approval for issuance of equity shares including convertible bonds / debentures through Qualified Institutional Placement (QIP) and/ or Depository Receipts or any other modes for an amount not exceeding Rs 5,000 crore in the upcoming AGM of the company," it added.

Shares of Torrent Pharma closed at Rs 2,731.45 per scrip on the BSE, down 1.20 percent from their previous close.