Shares of Torrent Pharmaceuticals opened 2% higher on Wednesday following a strong performance in the March-ending quarter.
The company reported a consolidated net profit of 287 crore compared to a net loss of 118 crore in Q4FY22, with a 17% surge in revenues to 2,491 crore.
India accounted for over 50% of the total revenues with 1,257 crore in Q4, while sales in Latin America, Germany and the rest of the world grew by 27%, 16% and 27% YoY respectively.
Gross margin expanded 130 basis points (bps) YoY to 72.1%, and the EBITDA margin witnessed an even higher growth rate of 350 basis points year-on-year.
The board of directors announced an interim dividend of rupees 8 per share of rupees 5 each.
The company remains committed to its branded generics business in key markets such as India and Brazil, and aims to strengthen its consumer healthcare segment in India.
It is also taking steps to resolve compliance issues in order to expand its US generics business.
Motilal Oswal maintains a 'Neutral' rating on the stock with a target price of rupees 1,650 apiece.
31 analysts polled by MintGenie on average have a 'buy' call on the stock.