Torrent Pharma posts net profit of Rs 314 cr for March quarter; revenue up 5 to Rs 1,946 cr

New Delhi: Drug firm Torrent Pharmaceuticals on Tuesday reported a consolidated net profit of Rs 314 crore for the quarter ended 31 March1, mainly on account of cost control and productivity improvements.

The company had posted a net loss of Rs 152 crore for the corresponding period of the previous financial year, Torrent Pharma said in a filing to the BSE.

Its consolidated revenue from operations stood at Rs 1,946 crore for the quarter under consideration as against Rs 1,856 crore for the corresponding period a year ago, it added.

For the financial year ended March this year, the net profit of the company was at Rs 1,025 crore. It was Rs 436 crore for the previous fiscal year, Torrent Pharma said.

The company posted Rs 7,939 crore as revenue from operations for the fiscal year ended March 2020. It was Rs 7,673 crore for the year-ago fiscal year, it added.

"Our fourth-quarter margins continued to benefit largely from the synergies of the acquired Unichem portfolio, incremental productivity and cost control. Our focus continues to remain on India, US, Brazil and Germany as our core markets," Torrent Pharmaceuticals Executive Chairman Samir Mehta said.