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Torrent Pharma Q1 net up 7% at Rs 354 crore

The drug firm had posted a net profit of Rs 330 crore in the April-June period of the last fiscal.

July 29, 2022 / 07:22 PM IST
Torrent Pharma | The scrip added over 10 percent after the board recommended issue of bonus shares in the ratio of 1:1 or one share for each fully paid up share held. The company has also declared a final dividend of Rs 23 (460 percent) per share of Rs 5 each including special dividend of Rs 15 per share. Torrent swung to a net loss of Rs 118 crore for the fourth quarter ended March 31 as headwinds buffeted its EU business and the liquids business discontinued in the US. The company had registered a profit after tax of Rs 324 crore in the corresponding quarter of last year.

Torrent Pharma | The scrip added over 10 percent after the board recommended issue of bonus shares in the ratio of 1:1 or one share for each fully paid up share held. The company has also declared a final dividend of Rs 23 (460 percent) per share of Rs 5 each including special dividend of Rs 15 per share. Torrent swung to a net loss of Rs 118 crore for the fourth quarter ended March 31 as headwinds buffeted its EU business and the liquids business discontinued in the US. The company had registered a profit after tax of Rs 324 crore in the corresponding quarter of last year.

Torrent Pharma on Friday reported a 7 per cent increase in its consolidated net profit to Rs 354 crore for the June 2022 quarter.

The drug firm had posted a net profit of Rs 330 crore in the April-June period of the last fiscal.

The net sales rose to Rs 2,292 crore in the first quarter against Rs 2,120 crore in the year-ago period, Torrent Pharma said in a statement.

The company said it has appointed Aman Mehta, son of Torrent Pharma Chairman Samir Mehta, as Director on the company’s board with effect from August 1, 2022.

Shares of the company on Friday ended 1.75 per cent up at Rs 1,528.80 apiece on the BSE.
PTI
first published: Jul 29, 2022 07:22 pm
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