Pharma stock jumps 8% after company’s net profit increased by 57% YoY 

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Pharma stock jumps 8% after company’s net profit increased by 57% YoY 

Following the release of FY24 financial results, which showed a growth in the net profit by 57 percent YoY, the share price of one of the leading pharmaceutical companies in India jumped by 8.7 percent on BSE to hit a new 52-week high at Rs. 2,839.9 in the morning trading session of Monday.

With a market capitalisation of Rs. 90,719.61 crore, at 11:12 a.m., the shares of Torrent Pharmaceuticals (NS: TORP ) Limited were trading in the green at Rs. 2,680.6, up by 2.62 percent.

The fluctuations in the share prices were observed after the company announced the financial results for Q4 FY23-24 and FY24, through the recent filings with the stock exchanges on Friday post-market hours.

The revenue from operations stood at Rs. 2,745 crore in Q4 FY23-24, indicating a growth of 10.2 percent YoY from Rs. 2,491 crore in Q4 FY22-23, while on a quarter-on-quarter basis, it jumped by 0.5 percent from Rs. 2,732 crore in Q3 FY23-24.

Torrent Pharma witnessed a rise in the net profit by 1.4 percent QoQ from Rs. 443 crore in Q3 FY23-24 to Rs. 449 crore in Q4 FY23-24, and gained by 57 percent YoY from Rs. 287 crore in Q4 FY22-23 to Rs. 449 crore in Q4 FY23-24.

On a year-on-year basis, the company’s Operational Earnings Before Interest, Taxes, Depreciation, and Amortisation, or Operational EBITDA stood at Rs. 883 crore in Q4 FY23-24, as against Rs. 727 crore in Q4 FY22-23, registering a growth of 21.4 percent.

For FY23-24, India revenues were up by 10 percent, at Rs. 1,380 crore, and on a MAT basis Torrent has outperformed the market across all focus therapies aided by strong new launch performance. Torrent has 20 brands in the Top 500 brands in IPM, with 17 brands over 100 crores.

As per AIOCD secondary market data, Indian Pharmaceutical Market (IPM) growth for the quarter was 9 percent, while Torrent’s chronic business grew at 14 percent, compared to IPM growth of 12 percent.

Further, the company’s Board recommended a final dividend of Rs. 6 per equity share of the face value of Rs. 5 each.

The stock has delivered positive returns of nearly 29 percent in six months, while 57.3 percent in the last one year. So far in 2024, the company has given 16.8 percent of positive returns.

Torrent Pharma Limited, a flagship company of the Torrent Group, is one of the leading pharmaceutical companies, with its four core markets, India, Brazil, Germany, and the US, which constitute over 85 percent of its total revenue.

The company is ranked 5th in the Indian Pharmaceuticals Market and is amongst the Top 5 in the therapeutics segments of Cardiovascular (CV), Gastro Intestinal (GI), Central Nervous System (CNS), and Vitamins Minerals Nutritionals (VMN) and Cosmo-Dermatology.

Written by Shivani Singh


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