Companies

Torrent Pharma standalone net up at ₹168 crore in Q4

Our Bureau Ahmedabad | Updated on May 26, 2020

Pharma major Torrent Pharmaceuticals Ltd on Tuesday reported standalone net profit of ₹168 crore for the quarter ended March 31, against ₹164 in the corresponding quarter a year ago, a growth of 2 per cent year-on-year.

Standalone revenues from operations stood at ₹1,491 crore (₹1,357 crore).

For the financial year 2019-20, the company registered standalone net profit of ₹939 crore, up 26 per cent from ₹745 crore in the previous year.

Standalone revenues from operations for the fiscal stood at ₹6,168 crore (₹5,762 crore).

The Board of Directors at its meeting held on Tuesday did not consider any further dividend for the fiscal. “The interim dividend of ₹32 (including ₹15 as special dividend) declared by the Board at its meeting held on March 11, shall be considered as final dividend for fiscal 2020,” it said in a regulatory filing.

“During these unprecedented times of the pandemic, Torrent Pharma recognises that it has an important role to play in the healthcare ecosystem and has proactively taken actions to ensure product availability and business continuity,” Samir Mehta, Chairman, Torrent Pharma said.

The company’s Q4 margins continued to benefit largely from the synergies of the acquired Unichem portfolio, incremental productivity and cost control. “Our focus continues to remain on India, US, Brazil and Germany as our core markets. For the US, remediation work at Dahej and Indrad has progressed as per plan and we expect Germany growth to revive in fiscal 2020-21,” he added.

On a consolidated basis, the company posted net profit of ₹314 crore for the quarter, against a net loss of ₹152 crore in the corresponding quarter last year. Consolidated revenues from operations stood at ₹1,946 crore (₹1,856 crore).

For fiscal 2020, company's consolidated net profit stood at ₹1,025, crore, up 135 per cent from ₹436 crore in the previous year.

Published on May 26, 2020

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