Torrent Pharma Q1 PAT seen up 2.8% YoY to Rs 339.1 cr: ICICI Direct

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.

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ICICI Direct has come out with its first quarter (April-June’ 22) earnings estimates for the Pharmaceuticals sector. The brokerage house expects Torrent Pharma to report net profit at Rs 339.1 crore up 2.8% year-on-year (down 37.2% quarter-on-quarter).

Net Sales are expected to increase by 11 percent Y-o-Y (up 11.1 percent Q-o-Q) to Rs 2,367.8 crore, according to ICICI Direct.

Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 2.1 percent Y-o-Y (up 18.2 percent Q-o-Q) to Rs 663 crore.

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