Torrent Pharma reports 56.45 percent jump in net profit to Rs 449 crore in Q4

Published On 2024-05-26 04:30 GMT | Update On 2024-05-26 04:30 GMT

New Delhi: Torrent Pharmaceuticals Ltd witnessed a significant surge in its consolidated net profit, soaring by 56.45% to reach Rs 449 crore in the March quarter, buoyed by increased revenue. This marks a notable increase from the consolidated net profit of Rs 287 crore reported during the corresponding period of the previous fiscal year, as stated by Torrent Pharmaceuticals in a regulatory filing.

Consolidated revenue from operations in the fourth quarter of FY24 stood at Rs 2,745 crore as against Rs 2,491 crore in the year-ago period, it added.

India revenue was at Rs 1,380 crore, up 10 per cent while the same for Brazil was at Rs 372 crore, registering a growth of 17 per cent, and Germany was at Rs 280 crore, up 11 per cent in the quarter, the company said.

On the other hand, US business revenue was at Rs 262 crore, down 6 per cent, it added.

Total expenses in the quarter under review was higher at Rs 2,145 crore as compared to Rs 2,067 crore in the same period a year ago.

Torrent Pharma said its board has recommended a final dividend of Rs 6 per equity share of Rs 5 each, subject to shareholders' approval.

Further, the board has also recommended obtaining an enabling approval from the shareholder to raise up to Rs 5,000 crore through issuance of equity shares, including convertible bonds/debentures through qualified institutional placement (QIP) and or any other modes, PTI reported

For the fiscal ended March 31, 2024 consolidated net profit was at Rs 1,656 crore as compared to Rs 1,245 crore in the previous year, the company said.

Consolidated revenue from operations in FY24 stood at Rs 10,728 crore as compared to Rs 9,620 crore in FY23.

Read also: Torrent Pharmaceutical Gets CDSCO Panel Nod To Manufacture, Market Antidiabetic FDC

Article Source : with inputs

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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Torrent Pharma reports 56.45 percent jump in net profit to Rs 449 crore in Q4

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