On a high base of 1QFY16, Torrent Pharma?s (TRP) top-line was down 21% YoY to Rs 15.4bn, EBITDA was at Rs 4.4bn (down 52% YoY) and PAT stood at Rs 2.9bn (down 55%YoY). The decline was largely attributed to lower gAbilify sales in 1Q. However, adjusted for one-off sales, operational performance of the base business (~25% margins) improved significantly.