Torrent Pharma rallies 8% on good Q1 results

The stock hit a 52-week high of Rs 1,652, up 8% on the BSE.

Torrent Pharmaceuticals has rallied 8% to Rs 1,652, also its 52-week high on the BSE after the company reported a better-than-expected 37% year-on-year (YoY) growth in its consolidated revenues at Rs 18.72 billion in June quarter (Q1FY19).  The company’s India business recorded 79% YoY growth and US business posted 23% YoY growth during the quarter.

“The company’s net profit during the quarter under review declined by 13.3% YoY at Rs 1.63 billion as against Rs 1.88 billion during the same period last year due to amortisation impact of branded business of Unichem Laboratories in Dec'2017 and lower foreign exchange