Granules India soars on robust Q3 earnings
Q3 consolidated net profit at Rs 21.81 crore against Rs 5.8 crore in a year ago quarter.
SI Reporter Mumbai Granules India has soared 7% to Rs 225 after reporting nearly four-fold jump in consolidated net profit at Rs 21.81 crore for the quarter ended December 31, 2013 (Q3), on back of higher sales. The pharmaceutical company had profit of Rs 5.8 crore in a year ago quarter.
The company’s net sales grew 46% to Rs 284 crore for the quarter over the previous year quarter, Granules India said in a statement.
The EBITDA or operating margin increased by 630 bps yoy to 16%, it added.
The stock opened at Rs 214 and touched a high of Rs 227 on the BSE. A combined 546,000 shares changed hands on the counter so far on the BSE and NSE.
