Granules India Q1 net profit up 41% to Rs 51.7 crore
The consolidated revenue from the operations of the company stood at Rs 453.23 crore for the quarter under consideration as against Rs 384.73 crore for the same period year ago.
July 23, 2018 / 09:52 PM IST
Drug firm Granules India today reported a 40.73 percent rise in its consolidated net profit at Rs 51.79 crore for the quarter ended on June 30, 2018. The company had posted a net profit of Rs 36.80 crore for the corresponding period of the previous fiscal, Granules India said in a filing to BSE.
Consolidated revenue from the operations of the company stood at Rs 453.23 crore for the quarter under consideration as against Rs 384.73 crore for the same period year ago.
Commenting on the development, Granules India Chairman & MD Krishna Prasad Chigurupati said: "The first quarter of the current financial year started on a positive note, We saw our total income increase by 21 percent compared to the same period of previous fiscal."
There was also a sequential growth in margin profiles despite the continuing raw material pricing pressures, he added.
The company said its board has declared first interim dividend of 25 paise per share of face value of Re 1 each and has also approved further investment of up to USD 15 million by way of debt/equity in company's wholly owned arm Granules Pharmaceutical Inc.
Shares of Granules India today closed at Rs 94.20 on BSE, up 3.12 percent from its previous close.