Torrent Pharma shares hit an all-time high of Rs 1,851.15, up 8% than BSE in intraday trading on Wednesday, after the company reported an after-tax profit of Rs 287 crore for the March quarter. (Q4FY23), supported by healthy functioning. performance. The drug maker posted a net loss of Rs 118 crore in the year-ago quarter (Q4FY22).
The stock broke the previous high of Rs 1,722.70 on 9 November 2022. The stock traded 6% higher at Rs 1,813.75 at 9:48am, while the S&P BSE Sensex fell 0.5%. .
In the fourth quarter of FY23, Torrent Pharma's revenue increased 16.9% YoY to Rs 2,491 crore, driven mainly by growth in the Indian, German and Brazilian markets. EBITDA increased 29.6% yoy to Rs 727 crore. Ebitda margin increased 286 basis points to 29.2% due to a change in revenue mix and higher revenues in different regions.
India's revenue was Rs 1,257 crore, up 22% from the previous year. The company said strong growth was driven by strong performance from new chronic therapy products and the integration of Curatio. Revenue in Brazil increased 27% year-on-year to Rs 318 crore, driven by strong underlying market growth, new product launches and growth in the generic segment. Meanwhile, US revenue growth fell 1% yoy to Rs 280 crore, hurt by lower prices for the underlying product mix and a lack of new products pending facility inspection.
Motilal Oswal Financial Services maintained its "Neutral" rating on the stock.
