Dividend of Rs 32 per share: Annual net profit rises from Rs 436 crore to Rs 1025 crore
Pharma giant Torrent Pharmaceuticals Ltd. has achieved fantastic results in the fourth quarter ended March 31, 2020 through productivity improvements and cost control. On a consolidated basis, the company has posted a net profit of Rs 314 crore this time as compared to a net loss of Rs 152 crore in the same period last year.
The company has declared an interim dividend of Rs 32 per share for the year 2019-20. This includes a special dividend of Rs 15 per share. Which was paid in March 2020. The board has not considered further dividends for the year 2019-20. The company's consolidated revenue has increased from Rs 1856 crore to Rs 1946 crore. The company has posted a net profit of Rs 1,025 crore for the financial year ended March 2020.
Which was Rs 436 crore last year. While the revenue has increased to Rs 7939 crore as compared to Rs 7673 crore. Samir Mehta, executive chairman, Torrent Pharmaceuticals, said the company's fourth-quarter margins have benefited from Unichem's portfolio, increased productivity and cost control. The company's focus will continue to be on major markets in India, the US, Brazil and Germany.
Remediation operations for the US are progressing as planned at Dahej and Indrad and the company expects revival in Germany in the year 2020-21.
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