Q4 Results 2022: Torrent Pharma, Bata India, Kolte-Patil declare March quarter results - key highlights here!

Q4 Results 2022: Torrent Pharma announced its March quarter results on Wednesday. The company posted Rs 118 crore Q4 loss on impairment provision. Meanwhile, Bata India and Kolte-Patil also declared their January-March quarter results. Here are key highlights of the quarterly earnings.

Torrent Pharma Q4 results 2022: company posts Rs 118 crore Q4 loss on impairment provision

Torrent Pharma on Wednesday said its consolidated loss stood at Rs 118 crore for the fourth quarter ended March 2022 on account of impairment provision of Rs 425 crore related to discontinuation of liquids business in the US.

The company had reported a net profit of Rs 324 crore in the January-March period of 2020-21 fiscal. Revenue rose to Rs 2,131 crore during the period under review as against Rs 1,937 crore in the same period of FY21.

For the entire 2020-21 fiscal, the drug major posted a consolidated net profit of Rs 777 crore as compared with Rs 1,252 crore in the preceding fiscal. Revenues rose to Rs 8,508 crore last fiscal. The same stood at Rs 8,005 crore in FY21.

"The branded businesses contributed to 70 per cent of total revenues in Q4 and grew by 15 per cent with India and Brazil continuing on a strong footing. The US business registered sequential growth aided mainly by launch of a new product," Torrent Pharma Chairman Samir Mehta said in a statement.

While the EU business faced some headwinds, the drug maker remains optimistic that the cost efficiency measures being taken will bring it back to growth in this market in the coming quarters, he added.

"We have taken a difficult decision of discontinuing our liquids business in the US. We believe the incremental investments required will exceed the potential economic benefits in this segment due to changing market conditions, as economics and competitive intensity have turned unfavourable compared to the time of conceptualisation," Mehta noted.

The company said its board has approved to seek shareholder nod to raise up to Rs 5,000 core through various means including Qualified Institutional Placement (QIP).

The company's board has also approved a final dividend of Rs 23 per equity share of Rs 5 each, including the special dividend of Rs 15 per share.

The final dividend amount, if declared by the shareholders, is proposed to be paid/dispatched on or around August 4, 2022, it added. 

Shares of Torrent Pharma ended at Rs 2634.55, up 1.62 per cent from the Tuesday closing price.

Bata India Q4 results 2022: net jumps over two-fold to Rs 63 cr; net sales up 13% to Rs 665 cr

Shoemaker Bata India Ltd on Wednesday reported over two-fold increase in its consolidated net profit at Rs 62.96 crore for the fourth quarter ended March 31, 2022.

The company had posted a net profit of Rs 29.47 crore in the January-March quarter a year ago, Bata India said in a regulatory filing.

Its revenue from operations increased 12.77 per cent to Rs 665.24 crore during the quarter under review, as against Rs 589.90 crore in the corresponding quarter of 2020-21.

Bata India's total expenses were at Rs 599.39 crore, up 6.29 per cent in Q4/FY 2021-22, as against Rs 563.90 crore in the January-March quarter of the previous fiscal.

For the fiscal ended March 2022, Bata India's consolidated net profit was at Rs 102.99 crore. It had reported a net loss of Rs 89.31 crore in fiscal year 2020-21.

Its revenue from operations was at Rs 2,387.71 crore in 2021-22, 39.75 per cent higher than Rs 1,708.48 crore in the year-ago period.

The Board of the company in a meeting held on Wednesday recommended a dividend of 1,090 per cent, which is Rs 54.5 per equity share of Rs 5 each fully paid-up of the company, which includes a one-time special dividend of Rs 50.5, for the year ended March 31, 2022.

Shares of Bata India Ltd settled at Rs 1,746.90 on BSE, down 2 per cent from the previous close.

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Kolte-Patil Developers Q4 results 2022: profit up 28% at Rs 27 cr

Realty firm Kolte-Patil Developers Ltd on Wednesday reported a 28 per cent increase in consolidated net profit at Rs 26.68 crore for the quarter ended March.

Its net profit stood at Rs 20.9 crore in the year-ago period, according to a regulatory filing.

Total income rose to Rs 380.99 crore in the fourth quarter of 2021-22 fiscal year from Rs 302.38 crore in the corresponding period of the previous year.

Pune-based Kolte-Patil has posted a Rs 84.85 crore net profit for the entire fiscal year 2021-22, as against a net loss of Rs 4.82 crore in the previous year.

Total income rose to Rs 1,136.50 crore in the last fiscal from Rs 708.46 crore in 2020-21 financial year. 

Kolte-Patil shares today ended flat at  Rs 245.55 on the BSE from the Tuesday closing price.