Torrent Pharma Q2 net profit zooms 3-fold to Rs 568 cr

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New Delhi | Updated: October 29, 2015 10:57:12 PM

Torrent Pharmaceuticals today reported nearly 3-fold jump in consolidated net profit to Rs 568 crore for the second quarter ended September 30, on account of new product launch in the US market.

Torrent Pharmaceuticals had posted net profit of Rs 198 crore for the July-September period of the previous fiscal, 2014-15, Torrent said in a filing to BSE. (Reuters)Torrent Pharmaceuticals had posted net profit of Rs 198 crore for the July-September period of the previous fiscal, 2014-15, Torrent said in a filing to BSE. (Reuters)

Torrent Pharmaceuticals today reported nearly 3-fold jump in consolidated net profit to Rs 568 crore for the second quarter ended September 30, on account of new product launch in the US market.

Torrent Pharmaceuticals had posted net profit of Rs 198 crore for the July-September period of the previous fiscal, 2014-15, Torrent said in a filing to BSE.

Its consolidated net income from operations also rose by 39 per cent to Rs 1,691 crore for the quarter under review, as against Rs 1,217 crore for the year-ago period.

“The exceptional growth in the revenues and profits for the quarter is primarily on account of launch of a new product in US market, which currently has limited competition,” the company said.

“The exceptional growth in the revenues and profits during the quarter and half year is primarily on account of launch of a new product in US market, which currently has limited competition,” it said.

Torrent Pharma stock closed at Rs 1,577.95, down 1.26 per cent, on the BSE.

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