Companies

Torrent Pharma Q4 net jumps 66%

Our Bureau Ahmedabad | Updated on May 18, 2021

Board approves ₹5,000-crore fund raising plan

The Board of Directors of Torrent Pharmaceuticals Ltd approved ₹5,000-crore fund raising plan through issuance of equity shares including convertible bonds / debentures through Qualified Institutional Placement (QIP) and/ or depository receipts or any other modes.

The company will seek shareholders’ nod for the fund raising proposal in its next Annual General Meeting.

For the fourth quarter of 2020-21, the pharma major posted standalone net profit of ₹279 crore, against ₹168 crore in the corresponding quarter a year ago, a 66 per cent jump

The company's standalone quarterly revenues from operations stood at ₹1,468 crore, down from ₹1,491 crore in the same period last year.

For the fiscal ended March 31, Torrent Pharmaceuticals posted standalone net profit of ₹1,138 crore, up 21 per cent against ₹939 crore in the previous year.

Final dividend

The Board of Directors recommended final dividend for the fiscal at ₹15 or 300 per cent per equity share of ₹5 each. Earlier, an interim dividend of ₹20 or 400 per cent per equity share was paid during the last quarter.

On consolidated basis, the company's net profit for the quarter stood at ₹324 crore, up 3 per cent, against ₹314 crore for the same quarter last year. Consolidated income from operations stood at ₹1,937 crore against ₹1,946 crore in the corresponding quarter last year.

For the fiscal 2020-21, the company's consolidated net profit stood at ₹1,252 crore, up 22 per cent from ₹1,025 crore in the previous year. Consolidated income for the fiscal stood at ₹8,005 crore against ₹7,939 crore in the previous year.

On Tuesday, Torrent Pharmaceuticals’ shares fell 1.2 per cent to close at ₹2,731.45 on the BSE.

Published on May 18, 2021

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