Torrent Pharmaceuticals today reported nearly 3-fold jump in consolidated net profit to Rs 568 crore for the second quarter ended September 30, on account of new product launch in the US market.
The company had posted net profit of Rs 198 crore for the July—September period of the previous fiscal, 2014—15, Torrent said in a filing to BSE.
Its consolidated net income from operations also rose by 39 per cent to Rs 1,691 crore for the quarter under review, as against Rs 1,217 crore for the year—ago period.
“The exceptional growth in the revenues and profits for the quarter is primarily on account of launch of a new product in US market, which currently has limited competition,” the company said.
Torrent Pharma stock closed at Rs 1,577.95, down 1.26 per cent, on the BSE.