City-based pharmaceutical manufacturing company Granules India Ltd today said its net profit for the quarter ended June 30 rose 37 per cent to Rs 39 crore, compared to Rs 29 crore in the year-ago period.
Revenues for the quarter increased by seven per cent from Rs 323 crore to Rs 344 crore, the company said in a statement.
Operating margin improved by 96 basis points to 20.8 per cent from 19.9 per cent and net profit margin by 249 basis points to 11.3 per cent from 8.8 per cent.
The Company's Board of Directors has approved interim dividend of 20 paise per share of face value of Re 1 each.
"Our top-line growth was slightly subdued but we have once again demonstrated our strength in operational excellence with improved bottom line", the company's Chairman and Managing Director Krishna Prasad Chigurupati said.
On business front, Granules Pharmaceuticals, Inc., the company's US based wholly owned subsidiary, entered into an agreement with USpharma to acquire 12.5 per cent of its stake.
USpharma in collaboration with its manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been out licensed to the company exclusively, he said.
"These are in line with our organisational strategy of solidifying our presence in the US market and enhancing product portfolio by leveraging both internal and external product development capabilities", Chigurupati said.
About Granules India Ltd.:
Granules (BSE: 532482, NSE: GRANULES) is a fast-growing pharmaceutical manufacturing company with world-class facilities and is committed to manufacturing excellence, quality and customer service. The company produces Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs) for quality conscious customers in the regulated and semi-regulated markets. Granules support customers with unique value, extensive product range, proactive solutions and a global network of associates. The company's global presence extends to over 300 customers in 60 countries through offices in India, U.S., U.K., China and Colombia. Granules offer all three components of the pharmaceutical value chain which gives the customers flexibility and choice.
The company has its own ANDAs and dossiers which enable customers to quickly enter a market instead of filing their own applications. Granules has a highly-skilled regulatory affairs department that can offer customers support and can help them navigate through regulatory issues.
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Media Contact:
Sumanta Bajpayee
Sumanta.Bajpayee@granulesindia.Com
+91-40-30663572
Granules India Ltd.
Source: Granules India Ltd.
