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Hot Pursuit News

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(27 May 2024, 10:50)

Torrent Pharma spurts as Q4 PAT climbs 56% YoY, board OKs to raise upto Rs 5,000 cr

Torrent Pharmaceuticals rallied 2.96% to Rs 2689.45 after the company’s consolidated net profit surged 56.45% to Rs 449 crore in Q4 FY24 as compared with Rs 287 crore recorded in Q4 FY23.

Revenue from operations rose 10.2% year on year (YoY) to Rs 2,745 crore in the quarter ended 31 March 2024.

Profit before tax was at Rs 631 crore, up 45.73% from Rs 433 crore posted in Q4 FY23.

Operating EBITDA stood at Rs 883 crore in Q4 FY24, registering the growth of 21% as against Rs 727 crore reported in Q4 FY23. Operating EBITDA margin improved to 32% as compared to 29% registered in the same period a year ago.

The company's India revenue grew by 10% YoY to Rs 1,380 crore in Q4 FY24. As per All India Organization of Chemists & Druggists (AIOCD) secondary market data, IPM growth for the quarter was 9%. Torrent’s chronic business grew at 14% versus IPM growth of 12%.

Torrent Pharma's Brazil revenue increased by 17% to Rs 372 crore and on constant currency terms rev...

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