Drug firm Torrent Pharmaceuticals today reported 59.33 per cent dip in consolidated net profit to Rs 207 crore for the second quarter ended September 30, 2016.
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 launch of a new product in the US.
Consolidated total income form 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.
"Previous period include exceptional revenues and profits which was primarily on account of the launch of a new product in US market, which had limited competition," the company said.
Shares of Torrent Pharmaceuticals today closed at Rs 1,565.85 per scrip on BSE, down 2.26 per cent from its previous close.
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