Torrent Pharma Q4 profit up 11% at Rs228 crore
Torrent Pharma posts 11% increase in consolidated profit at Rs228 crore for the fourth quarter ended March 2018, driven by robust sales in domestic market
New Delhi:Torrent Pharmaceuticals on Wednesday posted 11% increase in consolidated net profit at Rs228 crore for the fourth quarter ended March 2018, driven by robust sales in domestic market.
The company had reported a net profit of Rs206 crore during the same period last year. Revenues for the fourth quarter rose to Rs1,722 crore, as compared with Rs1,434 crore in the January-March period of 2016-17, Torrent Pharmaceuticals said in a regulatory filing.
For the year ended 31 March, 2018, the company posted a net profit of Rs678 crore, down 27% from Rs934 crore in 2016-17.
Revenues during the year, however, rose by 2% to Rs6,002 crore, compared with Rs5,857 crore in 2016-17.
During the year ended 31 March, 2018, the company said its revenues in the domestic market grew by 19% to Rs2,351 crore, as against Rs1,976 crore in 2016-17.
In the US market, the company said its revenues declined to 1,100 crore in 2017-18 as compared with Rs1,346 crore in 2016-17.
The company’s board recommended a final dividend of Rs5 per equity share of face value of Rs5 each.
Shares of the Torrent Pharma on Wednesday ended 1.05% down at Rs1,333.95 apiece on the BSE.