Granules India rose 1.05% to Rs 148.70 after consolidated net profit rose 6.15% to Rs 64.02 crore on 11.42% increase in net sales to Rs 703.95 crore in Q3 December 2019 over Q3 December 2018.
On a consolidated basis, profit before tax gained 2.45% to Rs 88.90 crore in Q3 December 2019 over Rs 86.77 crore in Q3 December 2018. Total tax expense fell 6% to Rs 24.87 crore in Q3 December 2019 as compared to Rs 26.46 crore in Q3 December 2018. The result was announced during trading hours today, 21 January 2020.
The consolidated operating profit jumped 44% to Rs 163 crore in Q3 December 2019 as against Rs 113 crore in Q3 December 2018. The consolidated operating profit margin also witnessed a 524 basis points (bps) rise to 23.2% in Q3 December 2019 as against 17.9% in Q3 December 2018.
Meanwhile, the company proposes to buyback upto 1.25 crore equity shares at Rs 200 per share, representing 4.92% of the total paid up equity capital of the company through tender offer.
Granules India is a pharmaceutical company producing finished dosages, pharmaceutical formulation intermediates and active pharmaceutical ingredients (APIs).
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