Torrent Pharmaceuticals standalone net profit increased 40.26 per cent for FY11

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Result: Torrent Pharma net profit increase 40%
Torrent Pharmaceuticals Ltd. announced its financial results for the fiscal ending March 31, 2011 on 28th May, 2011. The company recorded a standalone net profit of Rs. 290.86 crore for the year ended, as against the value of Rs. 207.37 crore reported during the last year i.e. a growth of 40.26 per cent.

This was on account of increase in net operating income by 22.72 per cent to Rs. 1,778.19 crore, as compared to Rs. 1,448.95 crore for the last year. But also, expenses recorded increase of 29.67 per cent to Rs. 1,413.84 crore; the same was Rs. 1,090.35 crore in last year.

For the quarter ended March, 2011 company recorded a standalone net profit of Rs. 44.46 crore for the quarter ended as compared to net profit of Rs. 44.70 crore reported during the corresponding period in 2010 i.e. a marginal decline of 0.54 per cent. This was mainly due to increase in expenditure by 27.51 per cent to Rs. 362.98 crore from Rs. 284.67 crore reported during the corresponding period in last year. But this was balanced by an increase in net operating income by 17.06 per cent to Rs. 418.46 crore from Rs. 357.49 crore reported during the corresponding period in last year.

Both the quarter ended and year ended results showed an incline in the total expenses. The incline in the total expenses for both the quarter and year ended was on the back of increase in the raw material cost. It increased by 42.83 per cent to Rs. 139.93 crore in the March 2011 quarter from Rs. 97.97 crore in the corresponding last quarter.

Considering the twelve month period from April - March 2011 into account, it increased by 41.88 per cent to Rs. 575.78 crore from Rs. 405.81 crore in the corresponding last year.

On the consolidated front, the group recorded a net profit of Rs. 42.84 crore for the quarter ended as compared to net profit of Rs. 59.14 crore reported during the corresponding period in 2010. This is equivalent to a decline of 27.56 per cent. The decline was mainly due to increase in expenditure by 17.19 per cent to Rs. 478.63 crore from Rs. 408.42 crore reported during the corresponding period in last year.

Whereas, net operating income recorded a growth of only 10.75 per cent to Rs. 526.44 crore from Rs. 475.32 crore reported during the corresponding period in last year. Considering the twelve month period from April - March 2011, group recorded a net profit of Rs. 270.17 crore as compared to net profit of Rs. 231.20 crore reported during the corresponding period in 2010. This is equivalent to a growth of 16.86 per cent.

This was due to increase in the net operating income of the company by 16.20 per cent to Rs. 2,226.48 crore, as compared to Rs. 1,916.04 crore for the last year. But also the expenses grew by 20.40 per cent to Rs. 1,879.84 crore, whereas the same was at Rs 1,561.35 crore in the last year.

Both the quarter ended and year ended results showed an incline in the total expenses. The incline in the total expenses for both the quarter and year ended was on the back of increase in the raw material cost. It increased by 40.96 per cent to Rs. 140.34 crore in the March 2011 quarter from Rs. 99.56 crore in the corresponding last quarter. Considering the twelve month period from April - March 2011 into account, it increased by 42.39 per cent to Rs. 584.69 crore from Rs. 410.64 crore in the corresponding last year.

The Board of Directors of the Company at its meeting held on May 28, 2011 have recommended a normal annual dividend of Rs. 6 per equity share of Rs. 5 each fully paid up and a special dividend of Rs. 2 per equity share of Rs. 5 each fully paid up.

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