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Torrent Pharma share price closes over 5% higher on Q2 earnings

Torrent Pharmaceuticals share price rose up to 6.92% intra day to Rs 1,797 compared to the previous close of Rs 1,680 on BSE.  The stock closed 5.13% or 86.25 points lower at Rs 1,766.75 on BSE.

twitter-logo BusinessToday.In        Last Updated: October 24, 2019  | 16:31 IST
Torrent Pharma share price closes over 5% higher on Q2 earnings
Torrent Pharmaceuticals share has given 5.22% returns in last two sessions. However, the pharma firm has lost 0.24% in last one year and gained 10.17% since the beginning of this year.

Torrent Pharmaceuticals share price rose today after the firm reported a 36.31 per cent rise in consolidated net profit to Rs 244 crore for the September ended quarter on robust sales in the domestic market. The drug firm posted a net profit of Rs 179 crore for the corresponding period of the previous fiscal.

Torrent Pharmaceuticals share price rose up to 6.92% intra day to Rs 1,797 compared to the previous close of Rs 1,680 on BSE.  The stock closed 5.13% or 86.25 points lower at Rs 1,766.75 on BSE.

On NSE too, the large cap stock closed higher 5.22% higher at Rs 1768. During the day, it hit an intra day high of Rs 1,782.

Torrent Pharmaceuticals share has given 5.22% returns in last two sessions. However, the pharma firm has lost 0.24% in last one year and gained 10.17% since the beginning of this year.

 Consolidated revenue from operations stood at Rs 2,005 crore for the quarter under consideration compared to Rs 1,894 crore for the same period last year.

The company's revenue from India business stood at Rs 899 crore for the September quarter as against Rs 815 crore in the year-ago period.

However, the firm clocked a standalone net profit of Rs 328 crore year-on-year (YoY) for Q2, up 18 per cent against Rs 277 crore reported in the corresponding quarter a year ago.

 It reported  Rs 1,603 crore in standalone revenues in Q2 as against Rs 1,472 crore in the same quarter last year.

For the first half of this year, the company clocked standalone net profit of Rs 551 crore compared to Rs 399 crore in the same period last year. Total revenue for the six-month period stood at Rs 3,206 crore against Rs 2,924 crore in revenue last year.

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