Torrent Pharma gallops to record high after strong Q4 results

Torrent Pharmaceuticals jumped 9.02% to Rs 781.70 at 10:43 IST on BSE after the company reported consolidated net profit of Rs 111 crore in Q4 March 2013, as against net loss of Rs 2 crore in Q4 March 2012.

The Q4 result was announced after market hours on Thursday, 30 May 2013.

Meanwhile, the S&P BSE Sensex was down 236.34 points or 1.17% at 19,979.06.

On BSE, 49,472 shares were traded in the counter as against average daily volume of 4,960 shares in the past one quarter.

The stock hit a high of Rs 796 so far during the day, which is a record high for the counter. The stock hit a low of Rs 748 so far during the day. The stock had hit a 52-week low of Rs 580.80 on 27 June 2012.

The stock had outperformed the market over the past one month till 30 May 2013, surging 3.8% compared with the Sensex's 3.65% rise. The scrip had, however, underperformed the market in past one quarter, jumping 6.59% as against Sensex's 7.18% surge.

The mid-cap company has equity capital of Rs 42.31 crore. Face value per share is Rs 5.

Torrent Pharmaceuticals' consolidated revenue rose 29% to Rs 871 crore in Q4 March 2013 over Q4 March 2012. The revenue from domestic formulation business rose 9% to Rs 218 crore while revenue from international business rose 35% to Rs 526 crore in Q4 March 2013 over Q4 March 2012. In the international operations, US business reported a growth of 43%, Europe 59%, Brazil 7% and Rest of the World, including Russia and CIS 23%.

Torrent Pharmaceuticals' consolidated net profit after tax and exceptional items surged 52% to Rs 433 crore on 19% growth in revenue to Rs 3212 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012).

The revenue from domestic business grew 13% to Rs 1024 crore while international business revenue rose 24% at Rs 1835 crore in FY 2013 over FY 2012.

Torrent Pharmaceuticals' board of directors at a meeting held on Thursday, 30 May 2013, recommended issue of bonus shares in the ratio of 1:1. The board also recommended a dividend of Rs 7 per share for FY 2013 in addition to a special dividend of Rs 10 per share commemorating four decades of the company's business operations.

Torrent Pharmaceuticals is the flagship company of the Torrent Group. The pharmaceutical firm has focus on the therapeutics areas of diabetology, cardiovascular, central nervous system, gastro-intestinal, anti-infective, pain management and gynecology.

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