Torrent Pharma Q1 net grows marginally by 3% as price erosion in US weighs

Price erosion in its base business in the US market dragged down the first quarter performance of the new fiscal year 2021-22 for Torrent Pharmaceuticals Ltd as its consolidated net profit rose marginally by three per cent.

As compared to a profit after tax (PAT) of Rs 321 crore in Q1 of previous financial year 2020-21, Torrent Pharma posted a PAT of Rs 320 crore for Q1 of current fiscal year FY22. The company's revenues also grew in single digits at four per cent, from Rs 2,056 crore in Q1 of FY21 to Rs 2,134 crore in Q1 of FY22.

While India,