Torrent Pharma’s board has accredited a ultimate dividend of ₹23 per fairness share of ₹5 every, together with the particular dividend of ₹15 per share, the corporate introduced whereas releasing its Q4FY22 outcomes. The ultimate dividend quantity, if declared by the shareholders, is proposed to be paid/dispatched on or round August 4, 2022.
“the board has advisable to the members a ultimate dividend of Rs. 23/- (460%) per fairness share of Rs. 5/- every together with the particular dividend of Rs. 15/~ per fairness share,” the pharma firm knowledgeable in an change submitting.
Torrent Pharma’s consolidated loss stood at ₹118 crore for the fourth quarter ended March 2022 on account of impairment provision of ₹425 crore associated to discontinuation of liquids enterprise within the US.
The corporate had reported a web revenue of ₹324 crore within the January-March interval of 2020-21 fiscal. Income rose to ₹2,131 crore throughout the interval beneath assessment as in opposition to ₹1,937 crore in the identical interval of FY21.
The corporate mentioned its board has accredited to hunt shareholder nod to lift as much as ₹5,000 core by way of varied means together with Certified Institutional Placement (QIP).
The pharma inventory is up greater than 6% in a yr’s interval, whereas it has declined over 11% in 2022 (YTD) thus far.
Supply: Live Mint