Granules India July-Sept net profit up 70% to Rs 145 crore

Hyderabad-based drug firm Granules India on Thursday said its consolidated net profit increased by 79 per cent to Rs 145 crore for the second quarter

Hyderabad: Hyderabad-based drug firm Granules India on Thursday said its consolidated net profit increased by 79 per cent to Rs 145 crore for the second quarter ended September 2022 on the back of robust sales across segments. Its net profit was Rs 81 crore during the same quarter last year.

Revenue touched Rs 1,151 crore, up from Rs 888 crore in the year-ago period. ” The current quarter result is due to our focus on supply reliability and ability to respond and cater to higher demand with a short turnaround time. Opportunities in Paracetamol are likely to continue and our expansion strategy in Europe is likely to yield bigger turnover in future,” Granules India Chairman and Managing Director Krishna Prasad Chigurupati said in a statement.

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Active Pharmaceutical Ingredients, Pharmaceutical Formulation Intermediates, and finished dosages contributed 29 per cent, 20 per cent, and 51 per cent, respectively to the revenues.