 "Torrent Pharma Q2 PAT rises 6.5 times")
The company's net profit during the corresponding quarter last fiscal was Rs 112 crore. For the second quarter of the current fiscal Torrent Pharma reported a total income of Rs 1,661 crore in comparison to Rs 932 crore in Q2FY15, up 78 per cent.
On a consolidated basis, the Group has posted a net profit after taxes and minority interest of Rs 568 crore for the quarter ended September 30, 2015 as compared to Rs 198 crore for the quarter ended September 30, 2014, up 186 per cent. Total income has increased from Rs 1,289 crore for the quarter ended September 30, 2014 to Rs 1,765 crore for the quarter ended September 30, 2015.
The company's US generics business recorded a 326 per cent growth in revenues while its domestic branded generics business recorded flat revenues of Rs 441 crore during the period. The company said in a statement the performance of the domestic formulations business could be attributed to the discontinuance of certain promotional schemes and hygiene initiatives that has impacted the business in the short term.
For the half year period, the Group posted a 124 per cent rise in net profit to Rs 1,017 crore, while its revenues increased by 56 per cent to Rs 3,638 crore.
