Torrent Pharma Q1 profit dips 13% at ₹163 crore
Torrent Pharma reported 13.29% decline in its consolidated net profit at ₹163 crore for the first quarter, as against ₹188 crore during the same period of the previous fiscal
New Delhi: Torrent Pharmaceuticals on Thursday reported 13.29% decline in its consolidated net profit at ₹163 crore for the first quarter ended 30 June. 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% during the April-June period of the current fiscal at ₹1,872 crore as compared with ₹1,362 crore during the same period of last year, Torrent Pharma said in a regulatory filing.
Amortisation 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%, from ₹84 crore in the same period of 2017-18.
Shares of Torrent Pharma today ended 0.14% down at Rs1,522.70 apiece on the BSE.
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