Torrent Pharma Plans To Raise Rs 5,000 Crore Through QIP

Torrent Pharmaceuticals Ltd. plans to raise Rs 5,000 crore by issuing equity shares and convertible bonds through a qualified institutional placement. The drugmaker will follow through with the QIP, after getting approval from the board members at its upcoming annual general meeting.

Net profit rose 56.4% year-on-year to Rs 449 crore in the three months through March, it said in an exchange filing.

Revenue rose 10.2% over the same period to Rs 2,745 crore. The company recommended a final dividend of Rs 6 per share. It had earlier issued an interim dividend of Rs 22 bringing the total dividend for the year-ended March 2024 to Rs 28.

• Revenue rose 10.2% to Rs 2,745 crore versus Rs 2,491 crore.

• Ebitda jumps 21.5% to Rs 883 crore versus Rs 727 crore.

• Margin at 32.2% versus 29.2%.

• Net profit gained 56.4% to Rs 449 crore versus Rs 287 crore.