Latest News | Granules India's Q2 Net Profit Rises 79 Pc to Rs 145 Crore
Get latest articles and stories on Latest News at LatestLY. 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.
New Delhi, Oct 20 (PTI) 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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)