Torrent Pharma shares surged to scale a 52-week high on Wednesday, continuing to rise for the fifth session in a row, a day after the drug maker reported a quarterly net profit as against a net loss for the corresponding period a year ago. The Gujarat-based pharma company's results were largely in line with analysts' estimates.
The Torrent Pharma stock — traded on the bourses with the symbol TORNTPHARM — gained by as much as Rs 136.4 or eight per cent to Rs 1,851.2 apiece on BSE. That was more than Rs 125 higher than its recent peak of Rs 1,722.7 apiece, scaled in November 2022.
Torrent Pharma Q4 results
After market hours on Tuesday, the drug maker reported a net profit of Rs 287 crore for the quarter ended March 2023, as against a net loss of Rs 118 crore for the corresponding period a year ago owing to an exceptional item of Rs 485 crore. Its revenue grew 17 per cent on a year-on-year basis to Rs 2,491 crore and EBITDA margin came in at 29.2 per cent, according to a regulatory filing.
According to Zee Business research, the company's quarterly profit was estimated at Rs 317 crore, revenue at Rs 2,442 crore and margin at 30 per cent.
Torrent Pharma dividend
Torrent Pharma's board recommended a dividend of Rs 8 per share — a 160 per cent payout given the face value of Rs 5 per share, subject to shareholders' approval.
