Torrent Pharmaceuticals Q1 results: Net profit increased by 33.63% to Rs. 298.00 crores

Torrent Pharmaceuticals Q1 results: Net profit increased by 33.63% to Rs. 298.00 crores

Torrent Pharmaceuticals Q1 results: Net profit increased by 33.63% to Rs. 298.00 crores

Torrent Pharmaceuticals Q1 results: It is one of the largest pharmaceutical companies in India located in Ahmedabad. However, it is one of the subsidiary companies to the Torrent Group. Initially, the company was also known as Trinity Laboratories later it was renamed as Torrent Pharmaceuticals. Whereas, the company operates in 40 countries with more than 2,000 products. The company manufactures products for cardiovascular, central nervous systems, gastrointestinal. 

Meanwhile, on Friday, July 31st, the company share surges almost 10% in the stock market. The main reason for this is due to the company reported its Q1 results for the financial year 2020-21. The company’s consolidated net profit increased by 33.63% to Rs. 298.00 crores in Q1FY21. While the company also posted its net profit of Rs. 223.00 crores in the same quarter last financial year. 

While the company’s total sales increased by 7.74% to Rs. 1,727.00 crores in this quarter ended on June 30th. While the company also posted its total sales of Rs. 1,603.00 crores in the same quarter last fiscal year. 

Besides, the company’s EBITDA for this quarter increased by 13.63% to Rs. 617.00 crores as against Rs. 543.00 crores in the same quarter last year. While the companies earnings per share (EPS) increased to Rs. 17.63 as against Rs. 13.18 in the same period last fiscal year.

However, the shares of Torrent Pharmaceuticals Limited reported a bullish trend in the stock market on Friday, July 31st. The company gained 223.80 points with a 9.18% increase and reached 2,661.40 INR. While in BSE, the company gained 225.85 points with a 9.27% increase and reached 2,662.70 INR.

Stock Market July 31st:

On Friday, both Sensex and Nifty reported a bearish trend in the stock market. The Sensex is trading below 37,610 levels and Nifty is trading below 11,100 levels in the stock market. The Sensex lost 129.18 points with a 0.34% decrease and reached a 37,606.89 level. While Nifty lost 28.70 points with a 0.26% decrease and reached 11,073.45 level.

On the other side, the number of coronavirus cases in India reached 16,95,988 as of Saturday, August 1st, and deaths reached 36,511.

In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Friday. It gained 105.49 points with a 0.82% increase and reached a 13,021.76 level. The S&P BSE Midcap index gained 49.39 points with a 0.36% increase and reached a 13,759.11 level. While Nifty Bank lost 6.80 points with a 0.03% decrease and reached 21,640.05 level.

Top Gainers on July 31st: Grasim, Cipla, Sun Pharma, UPL, and JSW Steel are the top gainers in today’s stock market.

Top Losers on July 31st: Eicher Motors, Reliance Industries, HDFC Bank, Asian Paints, and HDFC are the top losers in today’s stock market. 

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