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Shares of Torrent Pharmaceuticals rallied 9% to Rs 1,520, also their new lifetime highs on the BSE in early morning trades, after the company reported a strong 75% year-on-year (YoY) rise in consolidated net profit at Rs 449 crore for the first quarter ended June 2015 (Q1), mainly on account of a new product launch in the US.
The drug company had posted a net profit of Rs 256 crore in the corresponding period of previous fiscal.
The company’s consolidated net revenues grew 75% Y-o-Y at Rs 1,947 crore for the quarter under review as against Rs 1,114 crore in the same quarter a year ago.
"The exceptional growth in the revenues and profits for the quarter is primarily on account of launch of a new product in the US market, which currently has limited competition," Torrent Pharmaceuticals said in a statement.
The EBITDA (earnings before interest, tax, depreciation and amortization) margins expanded to 50% in June quarter against 34% in year ago quarter.
At 09:25 AM, the stock was up 6% at Rs 1,484 on the BSE and has seen a combined 311,561 shares changing hands on the counter on the BSE and NSE.
The drug company had posted a net profit of Rs 256 crore in the corresponding period of previous fiscal.
The company’s consolidated net revenues grew 75% Y-o-Y at Rs 1,947 crore for the quarter under review as against Rs 1,114 crore in the same quarter a year ago.
"The exceptional growth in the revenues and profits for the quarter is primarily on account of launch of a new product in the US market, which currently has limited competition," Torrent Pharmaceuticals said in a statement.
The EBITDA (earnings before interest, tax, depreciation and amortization) margins expanded to 50% in June quarter against 34% in year ago quarter.
At 09:25 AM, the stock was up 6% at Rs 1,484 on the BSE and has seen a combined 311,561 shares changing hands on the counter on the BSE and NSE.
