Torrent Pharma Q1 Net Dips 13 Percent at ₹163 Crore

Torrent Pharmaceuticals reported 13.29 percent decline in its consolidated net profit at ₹163 crore for the first quarter ended June 30. The company had posted a net profit of ₹188 crore during the same period of the previous fiscal. Revenue of the company, however, increased by 37 percent during the April-June period of the current fiscal at ₹1872 crore as compared with ₹1362 crore during the same period of last year, Torrent Pharma said in a regulatory filing. Amortization impact of acquiring branded business of Unichem Laboratories in December 2017 and lower foreign exchange gains impacted the company’s profit during the first quarter, it added. On a standalone basis, the company posted a net profit of ₹122 crore, up 45.23 percent, from ₹84 crore in the same period of 2017-18. – Business Standard