Torrent Pharma Q4 net up 11 pc at Rs 228 cr

Torrent Pharmaceuticals today posted 11 per cent increase in consolidated net profit at Rs 228 crore for the fourth quarter ended March 2018, driven by robust sales in domestic market.

The company had reported a net profit of Rs 206 crore during the same period last year.

Revenues for the fourth quarter rose to Rs 1,722 crore, as compared with Rs 1,434 crore in the January March period of 2016-17, Torrent Pharmaceuticals said in a regulatory filing.

For the year ended March 31, 2018, the company posted a net profit of Rs 678 crore, down 27 per cent from Rs 934 crore in 2016-17.

Revenues during the year, however, rose by 2 per cent to Rs 6,002 crore, compared with Rs 5,857 crore in 2016-17.

During the year ended March 31, 2018, the company said its revenues in the domestic market grew by 19 per cent to Rs 2,351 crore, as against Rs 1,976 crore in 2016-17.

In the US market, the company said its revenues declined to 1,100 crore in 2017-18 as compared with Rs 1,346 crore in 2016-17.

The company's board recommended a final dividend of Rs 5 per equity share of face value of Rs 5 each.

Shares of the Torrent Pharma today ended 1.05 per cent down at Rs 1,333.95 apiece on the BSE.