Drug firm Torrent Pharma on Tuesday reported a 3.18 per cent rise in its consolidated net profit to Rs 324 crore for the quarter ended March 31, 2021 mainly on the back of continued business recovery in India and cost control. The company had posted a net profit of Rs 314 crore a year ago.
Consolidated revenue from operations stood at Rs 1,937 crore against Rs 1,946 crore in the same period a year ago.
For the financial year ended March 2021, net profit was Rs 1,252 crore against Rs 1,025 crore in 2019-20.
Revenue from operations for the fiscal year ended March 2021 stood at Rs 8,005 crore against Rs 7,939 crore a year ago. India revenues stood at Rs 922 crore for the quarter under consideration, a growth of 10 per cent.
Torrent’s board has recommended a final dividend of Rs 15 per equity share of Rs 5 each.
GSK Pharma net dips
GlaxoSmithKline Pharmaceuticals’s net profits for the March quarter of 2021 fell to Rs 12.74 crore from Rs 137.94 crore a year ago.
The drop in net profits came largely on account of an exceptional item of Rs 119 crore. Revenue for the quarter came in at Rs 807 crore, while total income stood at Rs 837 crore.
Canara Bank
State-owned Canara Bank has reported a standalone profit of Rs 1,010.87 crore for the fourth quarter ended March 2021 as provision for bad loans declined. The bank had posted a net loss of Rs 3,259.33 crore during the corresponding January-March 2020 quarter.
Total income on a standalone basis during January-March rose to Rs 21,522.60 crore against Rs 14,222.39 crore in the year-ago period.
