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Drug firm Torrent Pharma on Tuesday reported a 3.18 per cent rise in its consolidated net profit to ₹324 crore for the quarter ended March 31, 2021 mainly on the back of continued India business recovery momentum, and cost control.
The company had posted a net profit of ₹314 crore for the corresponding period of the previous fiscal.
Consolidated revenue from operations of the company stood at ₹1,937 crore for the quarter. It was ₹1,946 crore for the same period a year ago, it added.
For the financial year ended March 2021, net profit of the company was ₹1,252 crore as against ₹1,025 crore in 2019-20.
The revenue from operations for the fiscal year ended March 2021 stood at ₹8,005 crore. It was ₹7,939 crore in the previous fiscal year.
India revenues stood at ₹922 crore for the quarter under consideration, a growth of 10 per cent, the filing said.
The company's board has recommended a final dividend of ₹15 per equity share of ₹5 each.
The board of directors has 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 crore in the upcoming AGM of the company," it added. Shares of Torrent Pharma closed at ₹2,731.45 per scrip on the BSE, down 1.20 per cent from their previous close.
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