Torrent Pharma shares tumble 11 pc as Q2 net dips

Shares of Torrent Pharmaceuticals today slumped 11 per cent after the company reported a 59.33 per cent dip in consolidated net profit for the second quarter ended September 30.
The stock tanked 10.57 per cent to Rs 1,400.20 on BSE.
At NSE, shares of the company plummeted 11 per cent to Rs 1,393.30.
The drug firm yesterday reported a 59.33 per cent dip in consolidated net profit to Rs 207 crore for the second quarter.
The company had posted a net profit after tax, minority interest and share of profit of associates of Rs 509 crore in July-September 2015-16, boosted by the launch of a new product in the US.

Consolidated total income from operations also declined to Rs 1,429 crore for the quarter under consideration as against Rs 1,693 crore for the same period year ago, Torrent Pharmaceuticals said in a filing to BSE.