Granules India posts 37% growth in net profit in Q2 FY07

2433 Investors following Granules India. Share this News with them.

0

Like this story, share it with millions of investors on M3

Granules India posts 37% growth in net profit in Q2 FY07

Granules India posts 37% growth in net profit in Q2 FY07

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Granules India: 7 dossiers ready to go commercial Granules India signs MoU with PharmaMatch Granules pact with Dutch co PharmaMatch Projecting 30-40% increase over last year: Granules India ALSO READ See latest News about Granules India See previous management interviews See what other Experts & Brokerages are saying about Granules India Granules India BSE | NSE 25/05/12 Are Mutual Funds betting on Granules India?

Granules India Ltd; a leading pharmaceutical formulation intermediates company with complete vertical integration, today announced a 37.43 per cent jump in net profit at Rs 3.05 crore for the quarter ended December 31, 2006 compared to Rs 2.22 crore in the corresponding quarter ended December 31st 2005. Net sales during the quarter grew by 12.98 per cent at Rs.50.21 crore for the second quarter ended December 31, 2006 compared to Rs.44.44 crore in the corresponding quarter last year 

For the six months ended period, i.e. H1FY07, Granules has reported revenues of Rs. 95.60 crore, a surge of 13% as compared to H1FY06.  Net profit grew by 21% to Rs.5.08 crore.

Highlighting the company's performance, Mr. Krishna Prasad, Managing Director, Granules India, said, "Our additional investments towards the international markets are paying off. Revenues from the EU registered a 122 per cent Q-o-Q growth and those from the Asia-Pacific region grew at 153 per cent during this period."

Mr.Prasad also added, "Metformin API and PFI's have contributed to a large extent for the growth. We expect the remainder of the year to showcase even better performance in sales."

During the quarter, Granules signed a Memorandum of Understanding with Hubei Biocause Heilen Pharmaceutical Company (Biocause) of China. Granules acquired a 50 per cent stake in the company to manufacture and sell Active Pharmaceutical Intermediates (APIs), starting with Ibuprofen. Biocause is one of the biggest Ibuprofen manufacturers and exporters in the world.

Contd on page 2....