Torrent Pharmaceuticals Ltd (TPL) has reported a loss of 12% in revenues and 46% in net profit in 2016-17, ended March 31, 2017, as compared to the same period in the last fiscal.
While the FY17 revenues were Rs5,857 crore (Rs 6,687 crore), net profit stood at Rs 934 crore (Rs 1,733 crore), according to a company statement here on Satuday.
In the fourth quarter (Q4 FY17), ended March 31, 2017, the Ahmedabad-based TPL reported a loss of 27% in its net profit and a four per cent loss in revenues. While the revenues were Rs1,434 crore (Rs 1,503 crore), net profit stood at Rs 206 crore (Rs 284 crore), according to a press release here on Saturday.
Previous period includes exceptional revenues and profits, primarily on account of the launch of a new product in US market, which had limited competition, the release added.
The company, on May 8, 2017, completed the acquisition of Regestrone and Pregachieve brands for India from global pharma player Novartis AG, Switzerland. These brands are widely prescribed by gynaecologists.
TPL has commenced commercial production and dispatches from expansion of existing and additional facilities at Sikkim plant during March this year.
The company also distributed an interim dividend of Rs 10 per equity share of face value of Rs 5 during the year and recommended dividend of Rs 4 per share. This is as per the company’s policy of distributing dividend of around 30% of annual consolidated net profit after tax.
TPL, with annual revenues of more than Rs 5,800 crores, is the flagship company of the Rs 18,300 crore Torrent Group.