Torrent Pharma posts Q4 net loss of Rs 152 crore

Written by Garima Published On 24 May 2019 3:45 AM | Updated On 17 Aug 2021 6:29 AM

The company had posted a net profit of Rs 228 crore for the corresponding period of the previous fiscal, Torrent Pharma said in a filing to the BSE.

New Delhi: Drug firm Torrent Pharmaceuticals May 20 reported a consolidated net loss of Rs 152 crore for the quarter ended March 31, 2019, mainly on account of exceptional items. The company had posted a net profit of Rs 228 crore for the corresponding period of the previous fiscal, Torrent Pharmaceuticals said in a filing to the BSE.

The company's consolidated revenue from operations stood at Rs 1,856 crore for the quarter under consideration. It was Rs 1,708 crore for the same period a year ago.

Net loss of Rs 152 crore for the fourth quarter is on account of exceptional items of Rs 357 crore and lower hedging gains, the company said.

Out of Rs 357 crore exceptional items, Rs 217 crore pertains to impairment provision of certain intangible assets under development and goodwill recognised with respect to the acquisition of Bio-Pharm Inc and Rs 140 crore is in relation to product recalls made during the current year, it added.

For the fiscal year ended March 2019, the company posted a net profit of Rs 436 crore as against Rs 678 crore for the previous fiscal year.

The company's consolidated revenue from operations for the fiscal year ended March 2019 stood at Rs 7,673 crore as against Rs 5,950 crore for 2017-18.

The company's board has declared a final dividend of Rs 4 per equity share, Torrent Pharmaceuticals said.

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Source : PTI

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Garima

Garima joined Medical Dialogues in the year 2017 and is currently working as a Senior Editor. She looks after all the Healthcare news pertaining to Medico-legal cases, MCI/DCI decisions, Medical Education issues, government policies as well as all the news and updates concerning Medical and Dental Colleges in India. She is a graduate from Delhi University. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here