Granules India has surged 8% to Rs 375, extending its over 10% rally in the past two days on the BSE, after reporting a strong 90% year-on-year (yoy) jump in consolidated net profit at Rs 23.63 crore for the quarter ended March 31, 2014 (Q4FY14). The pharmaceutical company had posted a profit of Rs 12.41 crore in the year-ago quarter.
The company’s net sales during the quarter under review increased by 55% to Rs 317 crore from Rs 204 crore in Q4 last year.
the EBITDA or operating margin has improved by 227 basis points to 16.2% in Q4FY14 compared with the corresponding quarter in previous fiscal.
Granules India said the growth was driven by strong performances across all manufacturing facilities, including the company's Chinese joint venture.
The company also improved utilisation in the newly expanded facility throughout the year and expects to continue improving utilisation in the future. In addition, the API (active pharmaceutical ingredients) facilities continued to increase production which contributed to strong sales, it added.
The stock opened at Rs 349 and hit a new high of Rs 383 on the BSE. A combined 1.93 million shares changed hands on the counter till late noon trades on the BSE and NSE.
The company’s net sales during the quarter under review increased by 55% to Rs 317 crore from Rs 204 crore in Q4 last year.
the EBITDA or operating margin has improved by 227 basis points to 16.2% in Q4FY14 compared with the corresponding quarter in previous fiscal.
Granules India said the growth was driven by strong performances across all manufacturing facilities, including the company's Chinese joint venture.
The company also improved utilisation in the newly expanded facility throughout the year and expects to continue improving utilisation in the future. In addition, the API (active pharmaceutical ingredients) facilities continued to increase production which contributed to strong sales, it added.
The stock opened at Rs 349 and hit a new high of Rs 383 on the BSE. A combined 1.93 million shares changed hands on the counter till late noon trades on the BSE and NSE.
