Torrent Pharma net profit down 16% in Q3 FY22

Ahmedabad: Torrent Pharmaceuticals Ltd’s consolidated net profit declined by 16% at Rs 249 crore for the quarter ended December, 2021 due to the muted performance in the US market. The company had registered a net profit of Rs 297 crore during the third quarter of the previous fiscal. Torrent Pharma’s US revenues dropped 20% at Rs 235 crores in Q3FY22.“Due to the prolonged delays in reinspection of our US facilities on account of the pandemic, coupled with higher than anticipated pricing pressure, our US business has been adversely affected during this quarter,” said Samir Mehta, chairman, Torrent Pharma. tnn