Ahmedabad-based drugmaker, Torrent Pharmaceuticals posted a marginal decline in standalone net profit for the quarter ended March 2008, due to substantial fall in operating margin together with weaker revenue growth.
During the quarter, the profit of the company declined 4.82% to Rs 308.20 million from Rs 323.80 million in the same quarter previous year. The company reported earnings of Rs 3.64 a share during the quarter, registering 4.96% decline over previous year period.Net sales for the quarter declined marginally 1.42% to Rs 2,213 million, while total income for the quarter rose slightly 2.64% to Rs 2,311.60 million, when compared with the prior year period.
During the quarter, the company reported a fall in operating margin of 670.22 basis points to 12.04% on higher production cost. Interest cost increased 66.99% to Rs 52.10 million while depreciation cost rose 0.74% to Rs 81.50 million over previous year period.
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