Torrent Pharma Shares Zoom 13% After Q1 Earnings
Shares of Torrent Pharmaceuticals rallied 13 per cent on Friday after the company reported a 48.61 per cent rise in its consolidated net profit for the quarter ended June 30, 2020.
The scrip jumped 13.05 per cent to Rs 2,754.90 -- its one-year high level -- on the BSE.
On the NSE, the stock surged 13.03 per cent to it 52-week high of Rs 2,755.40.
The drug firm Torrent Pharmaceuticals reported a 48.61 per cent rise in its consolidated net profit to Rs 321 crore for the quarter ended June 30, 2020, mainly on account of robust sales in the Indian market.
The company had posted a net profit of Rs 216 crore for the corresponding period of the previous fiscal, it said in a BSE filing.
Consolidated revenue from operations of the company stood at Rs 2,056 crore for the quarter under consideration. It was Rs 2,022 crore for the same period a year ago, it added.
(PTI)
