Torrent net down 39% in second quarter

Our Bureau

Ahmedabad, Oct 31: The Ahmedabad-based Torrent Pharmaceuticals Limited (TPL) has registered a 39.17 per cent decline in net profit for the second quarter ended September 30, 2001. The company has posted a net profit of Rs 12.98 crore compared to Rs 21.34 crore in the corresponding period last year.
The 405 crore company’s turnover, meanwhile, has risen from Rs 114.95 crore to Rs 121.49 crore, an increase of Rs 5.68 crore during the period. Significantly, the company has changed the policy of not providing for income tax liability in the interim financial result, a company release states. The income tax liability for the quarter is Rs 5.47 crore. On the export front, the company has registered a growth of 7 per cent from Rs 78.29 crore to Rs 83.56 crore.