Granules India rose 1.26% to Rs 404.85 after the company reported 8.40% rise in consolidated net profit to Rs 129.65 crore despite a 1.65% fall in revenue from operations to Rs 1,175.78 crore in Q4 FY24 as compared with Q4 FY23.
Total operating expenditure during the period fell by 4.89% year-over-year to Rs 920.08 crore.
EBITDA improved by 2% YoY to Rs 255.7 crore while EBITDA margin remained stable at 22% in the fourth quarter. Profit before tax in Q4 FY24 stood at Rs 175.64 crore, up by 7.11% from Rs 163.99 crore in Q4 FY23.
For FY24, Granules India has reported net profit and revenue of Rs 405.31 crore (down 21.54% YoY) and Rs 4,506.37 crore (down 0.12% YoY), respectively.
Dr Krishna Prasad Chigurupati, chairman & managing director of Granules India, said: We had a strong uptick in gross margin for the Q4 and for the full year, with continued growth in formulations share coming from US and Europe as part of our global expansion strategy and a higher contribution from new products.
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While the fiscal year numbers were below expectations due to cyber incident and low paracetamol demand, we are very excited about the way our strategies for the future are playing out and look forward to the upcoming years.
Granules India is a vertically integrated fast growing Indian pharmaceutical company. The company manufactures active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs), and finished dosages (FDs).
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