Torrent Pharma Profit Drops 10 Percent
Torrent Pharmaceuticals reported a near ten percent decline in second-quarter profit as higher research and development expenses outweighed strong domestic demand for chronic therapies.
Insights:
Torrent Pharmaceuticals reported a 10% drop in second-quarter profit to 5.34 billion rupees on Friday afternoon, weighed down by rising expenses. The drop followed a 71% surge in total costs, outpacing strong domestic demand for chronic therapies. Profit margins narrowed to 10.7% from 17.9% a year earlier.
