Pharma stock declares 280% dividend. Check payment date, other details

“We would like to inform that the Board has at its meeting held today approved.. an interim dividend of ₹14/- (280 %) per equity share of~ 5/- fully paid up. The dividend is expected to be paid/ dispatched on or around 14th February, 2023,” the company said in an exchange filing yesterday.

Torrent Pharma has declared an equity dividend amounting to ₹48 per share in the past 12 months, which, at the current share price results in a dividend yield of 3.03%, as per data by stock analytics platform Trendlyne.

Torrent Pharma’s consolidated net profit increased by 14% to ₹283 crore in the third quarter ended December 31, 2022 as compared to ₹249 crore in the October-December period of previous fiscal. Meanwhile, its net sales increased to ₹2,459 crore in the quarter under review as against ₹2,092 crore in the year-ago period.

The company said that India revenues at ₹1,259 crore grew by 17% and included revenue from integration of Curatio Healthcare. Whereas, US revenue at ₹291 crore, were up by 24% and Brazil revenue at ₹248 crore, were up by 36%.

“As per AIOCD secondary data, Torrent’s growth for the quarter was 12% vs IPM growth of 12%. Field force has been further expanded and MR strength now stands at 5,300 including Curatio divisions,” it said.

Torrent Pharma, with annual revenue of more than ₹8,500 crore, is the flagship Company of the Torrent Group. The Company is among the leaders in therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastro-intestinal (GI) and women healthcare (WHC). Torrent, with a presence in 40 countries, has 7 manufacturing facilities, of which 4 are US FDA approved. The pharma stock is up about 15% in a year’s period.