Torrent Pharmaceuticals Q3 net up 41 pc at Rs 158 cr

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Net sales during the quarter under review stood at Rs 990 crore as compared to Rs 768 crore in the year-ago period. Reuters Net sales during the quarter under review stood at Rs 990 crore as compared to Rs 768 crore in the year-ago period. Reuters
SummaryThe company had posted a consolidated net profit of Rs 112 crore in the in the same period last fiscal

Torrent Pharmaceuticals today reported 41 per cent increase in its consolidated net profit for the third quarter ended December 31, 2013 at Rs 158 crore on the back of robust sales.

The company had posted a consolidated net profit of Rs 112 crore in the in the same period last fiscal, Torrent Pharmaceuticals said in a filing to the BSE.

Net sales during the quarter under review stood at Rs 990 crore as compared to Rs 768 crore in the year-ago period, it added.

The Board of Directors of the company at its meeting held today has declared an interim dividend of Rs 5 per equity share of Rs 5/- each fully paid up, it said.

On December 13, 2013 the company had signed a definitive agreement to acquire branded formulations business in India and Nepal of Elder Pharmaceuticals for a consideration of Rs 2,004 crore.

"Both parties are in the process of taking regulatory approvals and satisfying with various conditions precedent," it said.

Shares of the company closed at Rs 475.35 per scrip, up 0.11 per cent from the previous close on the BSE.

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