Torrent Pharmaceuticals lost 0.98% to Rs 913.25 at 9:53 IST on BSE, with the stock sliding on profit taking after consolidated net profit surged 75% to Rs 198 crore on 25% growth in revenue to Rs 1217 crore in Q2 September 2014 over Q2 September 2013
The Q2 result was announced after market hours on Wednesday, 5 November 2014.
Meanwhile, the S&P BSE Sensex was down 18.13 points or 0.06% at 27,897.75.
On BSE, so far 8,560 shares were traded in the counter as against average daily volume of 6,504 shares in the past two weeks.
The stock was volatile. The stock lost as much as 4.17% at the day's low of Rs 883.75 so far during the day. The stock rose as much as 1% at the day's high of Rs 931.40 so far during the day.
Shares of Torrent Pharmaceuticals witnessed a pre-result rally. The stock surged 6.64% in four trading sessions to settle at Rs 922.25 on Wednesday, 5 November 2014, from a recent low of Rs 864.80 on 29 October 2014.
Torrent Pharmaceuticals' EBITDA jumped 83% to Rs 345 crore in Q2 September 2014 over Q2 September 2013.
Domestic formulation business' revenue surged 49% to Rs 442 crore in Q2 September 2014 over Q2 September 2013. Current quarter includes sales from acquired Elder business. Excluding this sales growth for quarter would have been 17%, Torrent Pharmaceuticals said in a statement.
International revenues rose 17% to Rs 673 crore in Q2 September 2014 over Q2 September 2013. Adjusting for currency movements revenues grew by 21%.
Torrent Pharmaceuticals is a flagship company of Torrent Group. It is engaged in manufacturing of formulations and bulk drugs.
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