Torrent Pharma Q4 net profit dips 27

The Torrent Pharmaceuticals8217; net sales rose to Rs 489.81 crore for the fourth quarter,compared to Rs 448.42 crore in the same period previous fiscal,Torrent Pharmaceuticals said in a filing to the Bombay Stock Exchange BSE.

For the year ended,March 31,2011,the company posted a consolidated net profit of Rs 270.17 crore,up 16.85 per cent,as against Rs 231.20 crore in the previous fiscal.

The Ahmedabad-based firm8217;s net sales for the year rose to Rs 2,121.97 crore,compared to Rs 1,832.93 crore in the previous fiscal.

The company8217;s board has recommended a normal annual dividend of Rs 6 per equity share of Rs 5 each and a special dividend of Rs 2 per equity share of Rs 5,it said.

Shares of Torrent Pharmaceuticals were today trading at Rs 590 on the BSE in late afternoon trade,down 3.76 per cent from its previous close.