Rs 22/Share Dividend: Large Cap Pharma Co Declares 57% Growth In Q3 Net Profit

Large cap company operating in pharmaceuticals sector Torrent Pharmaceuticals on February 2, 2024 declared a growth of 57% in its Q3 profit amid robust demand in domestic market, Brazil, and Germany. It reported its consolidated net profit at Rs 443 crore for the quarter ended December 31 as against Rs 283 crore announced in the corresponding quarter of last year.

Board of Directors of Torrent Pharmaceuticals also declared an interim dividend of Rs 22/- (440%) per equity share of Rs 5/- fully paid up. Torrent Pharmaceuticals shares zoomed 31% in last 3-months. Check details below:

Torrent Pharmaceuticals Q3 Results: Its revenue from operations witnessed a surge of 9.7% to Rs 2,732 crore, as sales surged 12% in India and 26% in Brazil. It was Rs 2,491 crore in the similar period of last year, according to its BSE filing. Meanwhile, margins on earnings before interest, taxes, depreciation and amortization (EBITDA) grew 270 basis points to 31.8% from 29.1% an year ago. Region-wise, revenues in India arrived at Rs 1,415 crore, up 12%. It is worth mentioning that its Brazil revenues declared at Rs 312 crore, up 26%.

The Board of Directors acceded to the desire of Sudhir Mehta to step down as the Director of the Company while continuing as Chairman Emeritus effective from 01-Apr-24. The copy of letter received from Sudhir Mehta is enclosed herewith as Annexure-C.

Torrent Pharmaceuticals Announces Dividend: As per the regulatory filing of the company dated Feb 2, "An interim dividend of Rs 22/- (440%) per equity share of ₹ 5/- fully paid up. The dividend is expected to be paid / dispatched on or around 23rd February, 2024."

Torrent Pharmaceuticals Sets Record Date For Dividend: The company has fixed Monday, 12th February, 2024 as the Record Date for taking record of the Members of the Company for the purpose of payment of Interim Dividend, if declared by the Board at their meeting scheduled to be held on Friday, 02nd February, 2024, added the BSE filing of the company.

Torrent Pharmaceuticals Stock Performance & Return: Last trading price of Torrent Pharmaceuticals shares on BSE is Rs 2524.70 apiece. The 52-week high price of Torrent Pharmaceuticals shares on BSE is Rs 2575.00 apiece and 52-week low price is Rs 1446.15 apiece, respectively. Its market capitalisation is Rs 85,443.48 crore. Torrent Pharmaceuticals shares rallied 28% in last 6-months, jumped 64% in last 1-year, soared 85% in last 2-years, and offered return of 96% in last 3-years. In last 5-years, the scrip gained 180% and rose 839% in last 10-years.

Disclaimer: The stock highlights the dividend, Q3 results and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.