Torrent Pharma Q4 net dips 27.56%

Torrent Pharmaceuticals said its consolidated net profit declined by 27.56 per cent to Rs 42.84 crore for the fourth quarter ended March 31, 2011, over the same period previous fiscal.

The company had a net profit of Rs 59.14 in the same period previous fiscal

The company's net sales rose to Rs 489.81 crore for the fourth quarter, compared to Rs 448.42 crore in the same period previous fiscal, Torrent Pharmaceuticals said in a filing to the Bombay Stock Exchange (BSE).

For the year ended, March 31, 2011, the company posted a consolidated net profit of Rs 270.17 crore, up 16.85 per cent, as against Rs 231.20 crore in the previous fiscal.

The Ahmedabad-based firm's net sales for the year rose to Rs 2,121.97 crore, compared to Rs 1,832.93 crore in the previous fiscal.

The company's board has recommended a normal annual dividend of Rs 6 per equity share of Rs 5 each and a special dividend of Rs 2 per equity share of Rs 5, it said.

Shares of Torrent Pharmaceuticals were on Monday trading at Rs 590 on the BSE in late afternoon trade, down 3.76 per cent from its previous close.