Torrent Pharmaceuticals today registered a major dip in the net profit for the quarter ended December 2017 at Rs 20 crore due to 14 per cent fall in the US business.
The company had reported the net profit of Rs 234 crore in the same period last year.
The company's net sales also declined to Rs 1,012 crore in Q3 FY 18 from Rs 1,225 crore in the corresponding period last year.
The company said that its US business dropped by 14 per cent at Rs 266 crore in Q3 FY 18. However, India business grew by 17 per cent at Rs 586 crore, Brazil by 22 per cent at Rs 194 crore, Germany by 19 per cent at Rs 241 crore and other markets by 9 per cent at Rs 131 crore in Q3 FY 18.
Torrent Pharmaceuticals has completed acquisition of branded business of Unichem Laboratories Limited (Acquisition) for India and Nepal on a going concern basis by way of slump sale in December 2017.
The company is in the process of making a final determination of fair value and the same is expected to be completed by March 2018.
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