Torrent Pharmaceuticals rose 2.15% to Rs 435 at 10:06 IST on BSE after consolidated net profit rose 4.62% to Rs 113 crore on 25% growth in revenue to Rs 972 crore in Q2 September 2013 over Q2 September 2012.
The Q2 result was announced after market hours on Wednesday, 30 October 2013.
Meanwhile, the S&P BSE Sensex was down 2.24 points or 0.01% at 21,031.73.
On BSE, 17,000 shares were traded in the counter as against average daily volume of 10,951 shares in the past one quarter.
The stock was volatile. The stock rose as much as 4.1% at the day's high of Rs 443.35 so far during the day. The stock lost as much as 1.62% at the day's low of Rs 418.95 so far during the day. The stock hit a high of Rs and a low of Rs so far during the day. The stock had hit a record high of Rs 464.80 on 5 August 2013. The stock had hit a 52-week low of Rs 315 on 23 November 2012.
The stock had underperformed the market over the past one month till 30 October 2013, declining 2.52% compared with the Sensex's 8.54% rise. The scrip had also underperformed the market in past one quarter, sliding 0.78% as against Sensex's 8.71% rise.
The mid-cap company has equity capital of Rs 84.61 crore. Face value per share is Rs 5.
Torrent Pharmaceuticals' consolidated profit before tax (PBT) rose 9.35% to Rs 152 crore in Q2 September 2013 over Q2 September 2012.
During Q2 September 2013, the domestic formulation business recorded revenues of Rs 297 crore, a 10% YoY growth. During the quarter there were disruptions in the market on account of various demands of the trade, subsequent to the notification of DPCO 2013 and related price notification, Torrent Pharmaceuticals said. This has impacted the overall market in the country with Torrent covered market as well as the overall Indian pharmaceutical market growing at only 3% as per AIOCD reports, the company said in a statement.
International revenues grew by 32% YoY to Rs 573 crore in Q2 September 2013. In the international operations, US business reported growth of 24%, Europe (incl. Heumann) 54%, Brazil growth 8% and Rest of the World, including Russia, CIS, Mexico & Canada 31%, Torrent Pharma said.
Torrent Pharmaceuticals is the flagship company of the Torrent Group. The company has manufacturing facilities located at Indrad, Baddi & Sikkim to produce formulations and bulk drugs. The plants are approved from various regulated and semi-regulated markets like US, UK, Brazil, Germany, Australia and South Africa.
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