Torrent Pharma Q2 net drags 12% to Rs 1.7 bn on rupee decline, US recall

During the quarter, the research and development spend came in at Rs 1.3 billion, as against Rs 1 billion in Q2FY18

Torrent Pharmaceuticals posted a 12 per cent dip in net profit in the September quarter to Rs 1.7 billion, on the back of a product recall in the US causing a one-time impact of Rs 250 million, the rupee depreciation, as well as higher depreciation on account of acquired business.

Revenues for the quarter came in at Rs 18.94 billion, clocking 34 per cent growth year-on-year. The India business (including Unichem or acquired business) came in at Rs 8.1 billion (up 34 per cent YoY), while US revenues clocked a 54 per cent jump to Rs 3.9 billion. Seven abbreviated new