Torrent Power Q1 net down 70%

June quarter net up marginally for Torrent Pharma

Torrent Power Ltd has registered over 70 per cent drop in the net profits for quarter ended June 30, 2012. On standalone basis, company's net profits for the quarter stood at Rs 104.36 crore as compared to Rs 348.71 crore for in the corresponding quarter last year.

Company's total income has increased from Rs 2089 crore for the quarter ended June 30, 2011 to Rs 2138.76 crore for the quarter ended June 30, 2012, the company informed in a statement filed with the Bombay Stock Exchange (BSE) on Tuesday.

On consolidated basis, company's net profit stood at Rs 104.43 crore for the quarter ended June 30, 2012 against Rs 343.57 crore reported in the same period last year.

Total income for the period increased from Rs 2098.15 crore for the quarter ended June 30, 2011 to Rs 2150.86 crore for the quarter ended June 30, 2012, showing about 2.5 per cent rise.

Meanwhile, Torrent Pharmaceuticals, of the same group, has posted a marginal rise in net profit during the first quarter ended June 30 at Rs 103.04 crore, over the same period in the previous fiscal when its net profit stood at Rs 102.59 crore.

Total income from operations during the first quarter of the current fiscal grew by 19 per cent on a year-on-year basis to Rs 767 crore, up from Rs 642 crore in the corresponding quarter in 2011-12.

During the quarter, the domestic formulation business recorded revenues of Rs 279 crore, growing by 14 per cent. Operating profits for the quarter stood at Rs 156 crore, up 4 per cent.