May 21, 2019 / 5:27 AM / 6 months ago

BUZZ-India's Torrent Pharmaceuticals sees worst day in 8 months after Q4 loss

** Shares of Torrent Pharmaceuticals Ltd down as much as 7.8% to 1525.35 rupees, their biggest pct loss since Sept. 2018

** Drug maker posted March-qtr loss of 1.52 bln rupees ($21.8 mln) on Monday, hurt by an impairment provision of 2.17 bln rupees on certain intangible assets and goodwill recognised as part of acquisition of Bio-Pharm Inc

** Co also incurred expenses of 1.40 bln rupees in relation to product recalls in the quarter

** Stock posts lowest since Oct. 2018

** In comparison, rival Dr.Reddy’s Laboratories Ltd posted a 67.3% jump in qtrly profit, while Piramal Enterprises Ltd reported an 88.4% profit fall

$1 = 69.7400 Indian rupees $1 = 69.7475 Indian rupees Reporting by Harish Bhaskar in Bengaluru

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