Torrent Pharma shares up 8% on strong Q3 profit

Shares of Torrent Pharmaceuticals today settled nearly 8 per cent higher after the company reported 41 per cent increase in consolidated net profit for the third quarter ended December 31, 2013-14 fiscal.
It declared an interim dividend of Rs 5 per equity share of Rs 5 each.
After surging 12.5 per cent to Rs 534.80 -- 52-week high on the BSE in intra-day trading -- Torrent Pharma's scrip finally closed at Rs 507.85, up 6.84 per cent.
On the NSE, the stock climbed 7.76 per cent to close at Rs 510.60.
The company had yesterday reported 41 per cent increase in consolidated net profit for the third quarter ended December 31 to Rs 158 crore on the back of robust sales.

It had posted a consolidated net profit of Rs 112 crore in the same period last fiscal.
Net sales during the quarter stood at Rs 990 crore, compared to Rs 768 crore in the year-ago period.