Torrent Pharma surges on robust Q3 earnings

Consolidated net profit surged 41% for the third quarter ended December 31, 2013 at Rs 158 crore

Shares of Torrent Pharmaceuticals were up over 10% at Rs 524 in early trades on Wednesday after the company posted better-than-expected earnings for the third quarter ended December 2013.

Torrent Pharmaceuticals, after market hours on Tuesday, reported 41% growth in its consolidated net profit for the third quarter ended December 31, 2013 at Rs 158 crore on the back of strong sales.

In the corresponding quarter last fiscal the company had posted a consolidated net profit of Rs 112 crore, Torrent Pharmaceuticals said in a filing to the BSE.

Net sales during the third quarter jumped to Rs 990 crore compared with Rs 768 crore in the year-ago period, it added.

Meanwhile, the board of directors has declared an interim dividend of Rs 5 per equity share of Rs 5 each fully paid up, it said.