Torrent Pharma reports Rs.357 cr net profit in Q4

The Dollar Business Bureau

Torrent Pharmaceuticals Ltd, a flagship company of Torrent Group, reported a consolidated net profit of Rs.357 crore in the fourth quarter ended March 31 2016, primarily on account of strong sales in the US marketplace. 

In a BSE filing, the company on Monday, said that it had posted a net profit of Rs.130 crore for the period January-March 2016.

The overall income from operations closed at Rs.1,499 crore for the given quarter, as compared to Rs.1,154 crore in same period, a year ago. 

Also, the company’s consolidated net profit stood at Rs.1,722 crore for the whole fiscal year 2015-16, as compared to Rs.751 crore in the previous fiscal year. 

During the last fiscal, the overall income from operations was recorded at Rs.6,676, while it was Rs.4,653 crore in the previous fiscal. 

The company said that the numbers for the three-month period that ended on December 31 2015 and March 31, 2016 are after taking into consideration the effect of scheme of amalgamation, whereas the figures for the corresponding periods are before taking into effect of amalgamation.

Therefore, the data of corresponding period and a year earlier cannot be compared with the data of the present period, it added.

Torrent, in a separate filing also said that the company’s board after taking into consideration the dispersal of special interim dividend and interim dividend of Rs.15 and Rs.20 (collectively Rs.35 per share) respectively, on every equity share of Rs.5 each for the fiscal year 2015-16, did not recommend distributing any additional dividend.

Torrent Pharmaceuticals Ltd, based in Ahmedabad, has three world-class manufacturing facilities in India; at Indrad (Gujarat), Baddi (Himachal Pradesh) and Sikkim.

 Recently, the company acquired Elder Pharmaceuticals’ business of branded domestic formulations in India and Nepal. It has a strong presence in the international markets, spanning across 40 countries, with more than 1200 product registrations. It has fully-owned subsidiaries in the US, the UK, Brazil, Germany, Philippines, Russia, Mexico, and other key markets.