Drug firm Granules India on Thursday said its consolidated net profit increased by 79 per cent to Rs 145 crore for the second quarter ended September 2022, aided by robust sales across segments.
The Hyderabad-based company had reported a net profit of Rs 81 crore in the July-September period of the previous fiscal.
Revenue from operations rose to Rs 1,151 crore for the September quarter as compared with Rs 888 crore in the year-ago period.
Active Pharmaceutical Ingredients (API), Pharmaceutical Formulation Intermediates (PFI), and finished dosages contributed 29 per cent, 20 per cent, and 51 per cent, respectively to the company’s revenues in the second quarter.
“The current quarter result is a combination of our relentless focus for supply reliability and customer satisfaction and ability to respond and cater to higher demand with a short turnaround time,” Granules India Chairman & Managing Director Krishna Prasad Chigurupati said in a statement.
Opportunities in Paracetamol are likely to continue and the company’s geography expansion strategy in Europe is likely to yield bigger turnover and EBITDA in future periods, he added.
Shares of Granules India on Thursday ended 2.35 per cent down at Rs 347.40 apiece on the BSE. PTI MSS SHW
