Finance
Torrent Pharmaceuticals reports 23% consolidated growth in formulation sales
Published in Biotech Business Week, November 29th, 2004
The company has reported a 15% increase in Profit after Tax (PAT) to $47.4 million as compared to $41 million in the previous year for Q2. Net sales for the quarter has boosted by 12% to $282.6 million.
In its meeting dated October 30, 2004, the board approved issue of Foreign Currency Convertible Bonds (FCCB) or Equity (through GDR/ADR) of $50 million with a green shoe option of 15%. Given the issue's demand, higher sales are expected in the market.
The company has also finalized credit...
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