Mumbai, May 21 (IANS). Torrent Pharmaceuticals released the results of the fourth quarter on Wednesday. The company’s profit has been reduced by about one percent to Rs 498 crore on a quarterly basis during the January-March period, which was at Rs 503 crore in the third quarter of FY 25.
The company’s expenditure in the March quarter has increased by 4.70 percent to Rs 2,252 crore on a quarterly basis. It has increased by 4.99 percent on an annual basis.
The cost of increase in expenditure is to increase the cost. The company’s material cost has increased by 8.65 percent to Rs 402 crore in the March quarter. At the same time, employee spending has increased by 2.19 percent to Rs 561 crore.
Depreciation and refinement expenditure increased by 1.01 percent to 201 crore and other expenditure increased by 4.46 percent to Rs 703 crore.
The March quarter saw a stable increase in the company’s income. Income from operations increased by 5.34 percent to Rs 2,959 crore on an annual basis in the fourth quarter of financial year 25, which was Rs 2,809 crore in the third quarter.
According to the stock exchange filing, the company’s total income has increased by 4.70 percent to Rs 2,941 crore in the March quarter, which was Rs 2,842 crore in the third quarter.
The company’s income of India’s business has increased by 12 percent to Rs 1,545 crore, mainly due to strong performance in focus therapy.
The US business also performed well, which increased by 15 percent to Rs 302 crore. The income of Germany business increased slightly by 2 percent to Rs 286 crore.
However, income from Brazil declined by 6 percent to Rs 351 crore. The reason for this was to reduce the value of Brazilian Real.
Under the success planning, Torrent Pharma announced the appointment of Aman Mehta, elder son of Torrent Group President Sameer Mehta, as Managing Director. His term will begin on August 1.
Additionally, the company’s board has recommended the approval of shareholders to raise up to Rs 5,000 crore through convertible means such as equity shares or QIP or other methods at the upcoming annual general meeting (AGM).
-IANS
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