Torrent Pharma shares surge 13 per cent after Q1 earnings
New Delhi: Shares of Torrent Pharmaceuticals rallied 13 per cent on Friday after the company reported a 48.61 per cent rise in its consolidated net profit for the quarter ended June 30, 2020.
The scrip jumped 13.05 per cent to Rs 2,754.90 -- its one-year high level -- on the BSE.
On the NSE, the stock surged 13.03 per cent to it 52-week high of Rs 2,755.40.
The drug firm Torrent Pharmaceuticals reported a 48.61 per cent rise in its consolidated net profit to Rs 321 crore for the quarter ended June 30, 2020, mainly on account of robust sales in the Indian market.
The company had posted a net profit of Rs 216 crore for the corresponding period of the previous fiscal, it said in a BSE filing.
Consolidated revenue from operations of the company stood at Rs 2,056 crore for the quarter under consideration. It was Rs 2,022 crore for the same period a year ago, it added.
Read also: Torrent Pharma, Biocon Candidates For MSCI Index: Morgan Stanley
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.