Q3 net profit of Granules India climbs 42% to 8 cr

HYDERABAD: Pharmaceutical firm Granules India Limited, has witnessed a jump of 42 per cent in its consolidated net profit for the third quarter ended on December 2011, at Rs 8 crore as against the net profit of Rs 5.6 crore during the year-ago period.

In the three months period from October-December of the current fiscal, the total revenue of the company rose by 45 per cent to Rs 465 crore.

Mr C Krishna Prasad, Managing Director of Granules India, said, “The strong growth in finished dosages segment, among other factors, is behind our growth.”

During the period under review, the company has achieved a compound annual growth rate of 27 per cent as against to nearly 14 per cent growth for the industry.

Under its expansion plans, the company is looking to expand its capacity and in the same move, it has already infused Rs 100 crore in the expansion of the pharmaceutical formulation ingredients and finished dosage capacity in the current financial year (2011-12).

As per the company, the projects were almost completed and are set to be commissioned for production by April/May.