CorporateGranules Q1 net up 129% at Rs 6 cr
Granules India Limited (GIL), a Hyderabad-based active pharmaceutical ingredients (APIs) and pharmaceutical formulations intermediates, reported a net profit of Rs 6.19 crore for the quarter ended June 2009, as compared with Rs 2.7 crore in the corresponding quarter last year, reflecting an increase of 129.25 per cent.
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Net sales grew 41.58 per cent to Rs 87.36 crore, as against Rs 61.70 crore during the same period a year ago, attributed to its focus on international markets.
"The growth was driven primarily by the API growth of 42 per cent in the quarter, as well as the introduction and commercialisation of our finished dosage business, which has achieved Rs 13 crore in net sales since inception, including Rs 5.5 crore for this quarter alone. We expect increased utilisation of our finished dosage facility to drive our growth further in the second half of the year," said C Krishna Prasad, managing director of Granules India.
The scrip of Granules India is currently trading at Rs 72.50 on the BSE, up 13.28 per cent as against the previous close of Rs 64.