Torrent Pharma net declines 60 percent in Q1

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SME Times News Bureau | 28 Jul, 2016
Leading drug maker Torrent Pharma Ltd. on Wednesday reported Rs 337 crore net profit on standalone basis for the first (April-June) quarter of this fiscal (2016-17) as against Rs 839 crore posted in like period year ago, registering 60 per cent year-on-year (YoY) decline.

In a regulatory filing to BSE and NSE, the city-based pharma major said total income also declined 30 per cent YoY for the quarter under review (Q1) to Rs 1,367 crore on standalone basis from Rs 1,943 crore in same period year ago.

On a consolidated basis too, net profit declined 55 per cent YoY to Rs 292 crore in Q1 from Rs 650 crore year ago and total income dipped 22 per cent YoY to Rs 1,571 crore from Rs 2,022 crore year ago.

The company's scrip of Rs 5 face value ended at Rs 1,409.55 per share on BSE, losing Rs 52.55 or 3.5 per cent from Tuesday's closing price of Rs 1,461.75.

Opening at Rs 1,477.85 per share, the scrip touched a high of Rs 1,477.85 and a low of Rs 1,395 during intra-trading session.