Torrent Pharma FY08 net up 44% at Rs135 cr

Mumbai: Torrent Pharmaceuticals reported a consolidated net profit of Rs135 crore for the financial year ended March 2008, a growth of 44% over the year-ago period.

The firm had recorded a net profit of Rs94 crore for the financial year ended March 2007, it said in a filing to the Bombay Stock Exchange (BSE).

The consolidated sales rose to Rs1,336 crore during FY08 from Rs1,292 crore in the year-ago period.

“The company’s profit grew significantly due to lower tax charge for the current year," Torrent Pharma said in a statement. The board has declared a dividend of ₹ .5 on every ₹ 5 share held, the filling said.

The consolidated operating profits grew 30% from the previous year at Rs203 crore, it added.

For the fourth quarter ended March 2008, the Ahmedabad-based pharma company announced a consolidated operating profit of Rs52 crore, a growth of 15% over the corresponding period a year-ago.

It had an operating profit of Rs45 crore in the corresponding quarter last year. However, the sales declined to Rs320 crore for the latest quarter, from Rs337 crore in the year-ago period.

Shares of Torrent Pharma closed at Rs167.30, down 3.77% on the BSE.

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