Torrent Pharmaceuticals rose 2.15% to Rs 1,378.85 at 9:33 IST on BSE after consolidated net profit jumped 189.22% to Rs 483 crore on 32% rise in total revenue to Rs 1539 crore in Q3 December 2015 over Q3 December 2014.
The result was announced after market hours yesterday, 4 February 2016.Meanwhile, the BSE Sensex was up 78.85 points, or 0.32%, to 24,417.28.
On BSE, so far 32,000 shares were traded in the counter, compared with an average volume of 15,501 shares in the past one quarter. The stock hit a high of Rs 1,400 and a low of Rs 1,375.30 so far during the day. The stock hit a record high of Rs 1,720 on 1 September 2015. The stock hit a 52-week low of Rs 1,033 on 27 February 2015. The stock had underperformed the market over the past one month till 4 February 2016, sliding 6.82% compared with 5.01% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 13.70% as against Sensex's 8.34% fall.
The large-cap company has an equity capital of Rs 84.61 crore. Face value per share is Rs 5.
Torrent Pharmaceuticals' consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) rose 120% to Rs 663 crore in Q3 December 2015 over Q3 December 2014.
Domestic formulation business recorded 7% rise in revenues to Rs 446 crore in Q3 December 2015 over Q3 December 2014. Discontinuance of certain promotional schemes and hygiene initiatives impacted the business in short term however it will have positive impact in long term, the company said in a statement.
The Brazilian business recorded 24.36% decline in revenues to Rs 118 crore in Q3 December 2015 over Q3 December 2014. The de-growth during the quarter was due to currency movements and realignment of inventory.
Revenues from US operations registered growth of 226% in Q3 December 2015 over Q3 December 2014, the company added.
Torrent Pharma is a pharmaceutical company. Its manufacturing plants are located at Indrad, Baddi and Sikkim, which have facilities to produce formulations and bulk drugs.
Powered by Capital Market - Live News
