Despite a 24 per cent hit on its US business, Ahmedabad-based Torrent Pharmaceuticals Ltd (TPL) registered an over 18 per cent growth in its consolidated net profit for the third quarter ended December 31, 2020. The company s consolidated net profit for the quarter was Rs 297 crore as against Rs 251 crore in the corresponding period last year. Not only did Torrent Pharma s US revenues fall by 24 per cent to Rs 292 crore, its India revenues grew in single digits of seven per cent to stand at Rs 930 crore in the quarter. As a result, the company s consolidated total revenue from operations fell marginally by less than one per cent to close at Rs 2,003 crore in Q3 of FY 2020-21, as compared to Rs 2,019 crore in Q3 of FY 2019-20.
Drug firm Torrent Pharmaceuticals on Monday reported an 18.32 per cent rise in its consolidated net profit to Rs 297 crore for the quarter ended in December. The company had posted a net profit of Rs 251 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to BSE. Consolidated revenue of the company stood at Rs 1,995 crore for the quarter under consideration. It was Rs 1,966 crore for the same period a year ago, it added. India revenues for the third quarter ended December 2020 was at Rs 930 crore, a growth of 7 per cent. Growth was driven by market recovery, continued momentum in chronic brands and strong recovery in sub-chronic brands, Torrent Pharma said.
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Sun Pharma share hits 52-week high, gains over 6% intra day
Meanwhile, Nifty Pharma index surged over 4% today. This was in line with Sensex and Nifty that hit fresh lifetime highs of 50,526 and 14,868 during today s session
BusinessToday.In | February 4, 2021 | Updated 00:46 IST
Sun Pharma stock price has gained 10% in one week, 5% in one month and 6.3% since the beginning of the year
Share of Sun Pharma gained over 6% in Wednesday s trade to touch a fresh 52-week high amid a jump in pharma index today.
Sun Pharma share opened at Rs 614.45 and gained 6.38% to the intraday high as well as new 52-week high of Rs 648.3, against the last close of Rs 609.40 on BSE. Sun Pharma share has risen 12% in the last 4 days.