Torrent Pharma’s board has approved the final dividend of 23 per equity share 5 each, with a special dividend of 15 per share, the company announced while releasing its Q4FY22 results. The final dividend amount, if declared by the shareholders, is proposed to be paid/remitted on or around 4th August, 2022.
“The Board has recommended finalization of the members” Dividend 23/- (460%) per equity share of Rs. 5/- each with a special dividend of Rs. 15/~ per equity share,” the pharma company informed in an exchange filing.
Torrent Pharma consolidated losses 118 crore for the fourth quarter ended March 2022 on account of loss provision of Rs. 425 crores related to the closure of liquids business in the US.
The company had recorded a net profit of 324 crore in the January-March period of the financial year 2020-21. revenue increased 2,131 crore during the period under review 1,937 crore in the same period of FY 2011.
The company stated that its board has approved seeking shareholder approval 5,000 cores through various means including Qualified Institutional Placement (QIP).
The pharma stock is up over 6% in the one-year period, while it has declined over 11% in 2022 (YTD) so far.