AHMEDABAD, Nov 23: The sales and profits of Torrent Pharmaceuticals Limited (TPL), flagship company of Rs 1100 crores Torrent Group, have slipped marginally during the first half of the current fiscal when compared to corresponding period last year.

Ahmedabad-based TPL sales dipped to Rs 149 crore during the six months ended September 30 (from Rs 151.20 crores in the corresponding period last year), the gross profit to Rs 27.86 crores (from Rs 29.06 crores), net profit to Rs 18.04 crores (from Rs 20.10 crores). Transferring a part of business to Torrent-Sanofi was cited as one reason for the erosion of profit.

The Torrent group's other company, Torrent Gujarat Biotech Limited (TGBL) incurred a huge loss, as per the unaudited results presented at the board of directors' meeting here on Friday. Its sales for H1 of 1997-98 recorded a fall to Rs 38.27 crores (from Rs 41.55 crores in previous year), registering a loss of Rs 1.79 crores before interest and depreciation (compared with a gross profit of Rs 21.60 crores previous year). It incurred a loss of Rs 21.75 crores before tax (compared with a profit of Rs 4.53 crores in previous year). No reasons have been cited for the wide gap between the profit and loss figures of the two years.

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