Granules India net up over 2-fold

Posts Rs 14.69 cr profit for the quarter ended June 30, 2013, on the back of higher revenues and improved margins

Granules India Limited, a fully-integrated pharmaceutical formulations manufacturer, reported a 134 per cent jump in consolidated net profit to Rs 14.69 crore for the quarter ended June 30, 2013, on the back of higher revenues and improved margins influenced by factors including strengthening of dollar against the rupee. Net profit for the same quarter last year stood at Rs 6.27 crore.

The consolidated total revenues during the quarter under review grew 25.23 per cent to Rs 252.33 crore from Rs 201.74 crore in the corresponding previous quarter.

"Our results are a harbinger of what is to come for FY 2014. The fiscal year, particularly the second half, will be exciting for us as we continue to shift our sales to formulations as our production ramps up," Krishna Prasad, managing director of Granules India, said in a release.