On the strength of strong sales across regions, Torrent Pharma on Tuesday declared a consolidated profit after tax of Rs 287 crore for the fourth quarter ended March 2023.
In the January-March quarter of the 2021–22 fiscal year, the medicine manufacturer had recorded a net loss of Rs 118 crore.
According to a statement from Torrent Pharma, the company's sales increased to Rs 2,491 crore for the fourth quarter from Rs 2,131 crore in the same quarter last year.
The medicine manufacturer reported a profit after tax of Rs 1,245 crore for the year that ended March 2023 as opposed to Rs 777 crore in FY22.
Last fiscal year, the income increased to Rs 9,620 crore from Rs 8,508 crore.
According to the business, the board of directors advised the shareholders to approve the issuing of shares, convertible bonds, and debentures via qualified institutional placement (QIP), depository receipts, or any other means for a sum not to exceed Rs 5,000 crore.
A final dividend of Rs 8 per share of Rs 5 was also authorised by the board.
On the BSE, shares of the pharmaceutical company finished 0.69 percent higher at Rs 1,717.15.