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Business News/ Markets / Stock Markets/ Torrent Pharma Q4 results: Net profit stood at ₹287 Cr, Board declares 160% dividend

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Torrent Pharma Q4 results: Net profit stood at ₹287 Cr, Board declares 160% dividend

1 min read 30 May 2023, 06:32 PM IST Join us

Vipul Das

The flagship company of the Torrent Group, Torrent Pharma, is among the Top 5 in the therapeutics segments.

On Tuesday, the shares of Torrent Pharma closed on the BSE at ₹1717.15 apiece up by 0.69% from the previous close of ₹1705.40. (REUTERS) — On Tuesday, the shares of Torrent Pharma closed on the BSE at ₹1717.15 apiece up by 0.69% from the previous close of ₹1705.40. **(REUTERS)**

The flagship company of the Torrent Group, Torrent Pharma, is among the Top 5 in the therapeutics segments of Cardiovascular (CV), Gastro Intestinal (GI), Central Nervous System (CNS), Vitamins Minerals Nutritionals (VMN), and Cosmo-Dermatology and is ranked 6th in the Indian pharmaceuticals industry.

The Board of Directors “Recommended to the members a final dividend of ₹8/- (160%) per equity share of ₹5 each. The final dividend amount, if declared by the Shareholders, is proposed to be paid / dispatched on or around 14th August, 2023. Earlier an interim dividend of ₹14/- (280%) per equity share was paid during the last quarter," said Torrent Pharma in a stock exchange filing.

The Board of Directors also “Recommended to the members to obtain enabling approval for issuance of Equity Shares including Convertible Bonds / Debentures through Qualified Institutional Placement (QIP) and / or Depository Receipts or any other modes for an amount not exceeding ₹5,000 crores in the upcoming Annual General Meeting of the Company," informed Torrent Pharma to stock exchanges.

During Q4FY23, the company recorded a net revenue of ₹2,491 Cr up by 17% YoY from ₹2,131 Cr in Q4FY22. The company said its gross profit stood at ₹1,787 Cr during the quarter ended March 2023 up by 18% YoY from ₹1,509 Cr during the quarter ended March 2022. Its EBITDA reached ₹727 Cr during the quarter under review up by 30% YoY from ₹561 Cr during the corresponding quarter of the previous fiscal. Torrent Pharma said its net profit stood at ₹287 Cr during Q4FY23 as against a net loss of ₹118 Cr in Q4FY22.

During the full financial year FY23, its revenue stood at ₹9,620 Cr up by 13% YoY from ₹8,508 Cr recorded in the previous financial year. Its EBITDA reached ₹2,842 Cr up by 17% from ₹2,431 Cr and its net profit reached ₹1,245 Cr in 12MFY23 up by 60% YoY from ₹777 Cr in 12MFY22.

On Tuesday, the shares of Torrent Pharma closed on the BSE at ₹1717.15 apiece up by 0.69% from the previous close of ₹1705.40.

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ABOUT THE AUTHOR

Vipul Das

Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).