Torrent Pharma records over four-fold jump in Q3 profit at Rs 246 crore

Drug firm Torrent Pharmaceuticals on Wednesday reported an over four-fold jump in consolidated net profit to Rs 246 crore for the December 2018 quarter.

It had posted a net profit of Rs 58 crore in the corresponding period of 2017-18, the company said in a BSE filing.

Consolidated revenue from operations stood at Rs 2,051 crore for the quarter, against Rs 1,463 crore a year ago.

In a separate filing, the company said its board has approved an interim dividend of Rs 13 per equity share.

The company said its board has recommended to members to obtain enabling approval for issuance of equity shares including convertible bonds/debentures through qualified institutional placement and/or depository receipts or any other modes for an amount not exceeding Rs 5,000 crore through postal ballot.

Shares of Torrent Pharmaceuticals closed at Rs 1,851.55 per scrip on the BSE, down 1.28 per cent from the previous close.