Torrent Pharma Q1 profit dips 13 percent at Rs 163 crore

New Delhi: Torrent Pharmaceuticals reported 13.29% decline in its consolidated net profit at Rs 163 crore for the first quarter ended 30 June.

The company had posted a net profit of Rs 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 Rs 1,872 crore as compared with Rs 1,362 crore during the same period of last year, Torrent Pharma said in a regulatory filing.

Amortisation impact of acquiring the 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 Rs 122 crore, up 45.23%, from Rs 84 crore in the same period of 2017-18.