Torrent Pharma shares zoom over 9 pc after Q1 earnings

Shares of Torrent Pharmaceuticals rallied over 9 per cent on Friday after the company reported a 48.61 per cent rise in its consolidated net profit for the quarter ended June 30, 2020.

The scrip zoomed 9.27 per cent to close at Rs 2,662.70 on the BSE. During the day, it jumped 13.05 per cent to Rs 2,754.90 -- its one-year high.

On the NSE, the stock surged 9.18 per cent to settle at Rs 2,661.40.

Drug firm Torrent Pharmaceuticals reported a 48.61 per cent rise in its consolidated net profit to Rs 321 crore for the quarter ended June 30, 2020, mainly on account of robust sales in the Indian market.

The company had posted a net profit of Rs 216 crore for the corresponding period of the previous fiscal, it said in a BSE filing.

Consolidated revenue from operations of the company stood at Rs 2,056 crore for the quarter under consideration. It was Rs 2,022 crore for the same period a year ago, it added.