This site is intended for Healthcare professionals only.
×

Torrent Pharma posts Q4 net loss of Rs 152 crore


Torrent Pharma posts Q4 net loss of Rs 152 crore

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.

Read Also: Torrent Pharma recalls over 8.82 lakh bottles of Losartan Potassium tablets from US, Puerto Rico

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.

Read Also: Torrent Pharma gets certain USFDA observations for Indrad plant

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


Source: PTI
0 comment(s) on Torrent Pharma posts Q4 net loss of Rs 152 crore

Share your Opinion Disclaimer

Sort by: Newest | Oldest | Most Voted