 "Torrent Pharma hits new high on robust Q1 performance")
Torrent Pharmaceuticals is trading 3% higher at Rs 760 after reporting a robust 72% year-on-year (yoy) jump in net profit at Rs 256 crore for the quarter ended June 30, 2014 (Q1), on back of strong operational performance. The drug maker had profit of Rs 149 crore in a year ago quarter.
Revenues grew 15% yoy at Rs 1,114 crore for the quarter against Rs 972 crore in the corresponding quarter of previous year.
EBITDA or operating profit increased by 66% yoy to Rs 345 crore and margins improved to 31% from 21% during the same period last year.
The stock opened at Rs 770 and touched a new high of Rs 785 on National Stock Exchange (NSE). A combined 164,000 shares changed hands on the counter so far on NSE and BSE.
Meanwhile, the stock has outperformed the market by gaining nearly 10% in past one week, compared to 0.67% decline in benchmark CNX Nifty.
Revenues grew 15% yoy at Rs 1,114 crore for the quarter against Rs 972 crore in the corresponding quarter of previous year.
EBITDA or operating profit increased by 66% yoy to Rs 345 crore and margins improved to 31% from 21% during the same period last year.
The stock opened at Rs 770 and touched a new high of Rs 785 on National Stock Exchange (NSE). A combined 164,000 shares changed hands on the counter so far on NSE and BSE.
Meanwhile, the stock has outperformed the market by gaining nearly 10% in past one week, compared to 0.67% decline in benchmark CNX Nifty.