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Torrent Pharma Q2 net profit dips 12 pc to Rs 179 crore

Press Trust of India  |  New Delhi 

Drug firm has reported a 12.25 per cent dip in its consolidated net profit to Rs 179 crore for the quarter ended September 2018 due to one-time impact of a recall in the US and rupee

The company had posted a net profit of Rs 204 crore for the corresponding period of the previous fiscal, said in a statement.

Its total revenue, however, on a consolidated basis rose to Rs 1,894 crore for the quarter under consideration as against Rs 1,417 crore for the same period a year ago.

The company's net profit was impacted as and amortisation was higher by Rs 68 crore on account of acquired business, one time impact of recall in US of Rs 25 crore and lower hedging gains due to rupee depreciation, said.

The research and development spend for the second quarter this fiscal was also higher at Rs 136 crore as against Rs 107 crore in the year ago period, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, November 04 2018. 14:10 IST
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