Business Boy
New Delhi: Drug agency Torrent Pharmaceuticals on Tuesday reported a consolidated net profit of Rs 314 crore for the quarter ended 31 March1, primarily on account of value management and productiveness enhancements.
The firm had posted a net loss of Rs 152 crore for the corresponding interval of the earlier monetary 12 months, Torrent Pharma mentioned in a submitting to the BSE.
Its consolidated revenue from operations stood at Rs 1,946 crore for the quarter into account as in opposition to Rs 1,856 crore for the corresponding interval a 12 months in the past, it added.
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For the monetary 12 months ended March this 12 months, the net profit of the corporate was at Rs 1,025 crore. It was Rs 436 crore for the earlier fiscal 12 months, Torrent Pharma mentioned.
The firm posted Rs 7,939 crore as revenue from operations for the fiscal 12 months ended March 2020. It was Rs 7,673 crore for the 12 months-in the past fiscal 12 months, 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 mentioned.
For the US, remediation work at Dahej and Indrad has progressed as per plan and the corporate expects Germany development to revive in 2020-21, he added.
During these unprecedented instances of the pandemic, Torrent Pharma recognises that it has an essential position to play within the healthcare ecosystem and has proactively taken actions to guarantee product availability and enterprise continuity, Mehta mentioned.
In the fourth quarter, the corporate introduced an interim dividend for 2019-20 of Rs 32 per fairness share (together with Rs 15 per fairness share as a particular dividend), which was paid in March 2020. In view of the identical, the Board has not thought of any additional dividends for 2019-20, the submitting mentioned.
Shares of Torrent Pharmaceuticals closed at Rs 2,576.65 per scrip on the BSE, down 0.89 % from its earlier shut.
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