The share price of Torrent Pharma fell over 7 percent on Tuesday on profit-booking after the firm posted a decent show in its December quarter results.

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The company posted an 18.3 percent YoY jump in its net profit at Rs 297 crore for the quarter ended December 2020 against Rs 251 crore in the December 2019 quarter. Its revenue was up at Rs 1,995 crore in December 2020 from Rs 1,966 crore in December 2019.

The firm fell as much as 7.4 percent to its day's low of Rs 2,552 per share on BSE.

Brokerages retained their bullish view on the stock after its earnings. Goldman Sachs, CLSA, Citi and Credit Suisse, all maintained 'buy' ratings on the stock on a good Q3 show.

"The soft US trend offsets growth in rest of business, while the company expects a sequential pick-up in the India segment to continue. Brazil & Germany will cushion soft near-term trajectory in the US, while medium-term opportunity on the company looks attractive," Goldman Sachs said in an earnings review report.

Meanwhile, as per CLSA, it was a steady show in Q3 and a strong margin yet again. It added that the company’s India positioning is strong but reduced the FY21-23 EPS estimate for the firm by 2 percent.

Credit Suisse said that there was good execution in India but consensus margin expectations were higher. Q3 was an in-line quarter and reinforces the view of high margin expectations, it added. The consensus estimates factor in FY22 margin to be similar to that of FY21.

Citi also noted that it was a decent quarter with margin strength continuing. The strong margin despite multiple headwinds shows the resilience of the business, it said, and added it expects the earnings momentum to improve further.