Torrent Pharma sheds 6% post March quarter results

NEW DELHI: Shares of Torrent Pharma slumped over 6 per cent in Tuesday’s trade after the company along with Zyg Pharma (now amalgamated) reported a net profit of Rs 357 crore for the quarter ended March 31. The company (excluding Zyg Pharama) had posted a net profit of Rs 130 crore in the corresponding quarter last year, the company said in a BSE filing.

The numbers, however, could not be compared, the company said, adding: “The figures for the comparative periods have been regrouped, wherever necessary, to make them comparable with the figures for the current period. The figures for the quarter ended Dec 31, 2015 and March 31, 2016 are after giving effect of scheme of amalgamation while figures for corresponding quarters are before giving effect of amalgamation.”

Total income from operations stood at Rs 1,499 crore for the quarter under consideration compared with Rs 1,154 crore for the year-ago period.

Following the development, the stock fell 6.20 per cent to hit a low of Rs 1250.85 on BSE before recovering some ground. At 9.35 am, the stock was trading 2 per cent lower at Rs 1,306.10.

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