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Granules India's net jumps by 228% to Rs.8 cr in Q2

Our Bureau, Mumbai
Thursday, October 25, 2012, 17:10 Hrs  [IST]

Granules India has registered strong growth in bottom line during the second quarter ended September 2012 due to an increase in finished dosage sales and high production levels at all the facilities. Its net profit increased by 228 per cent to Rs.8.08 crore from Rs.2.46 crore in the similar period of last year. The company's net sales, however, grew by 8.7 per cent only to Rs.175.50 crore from Rs.161.40 crore. The growth in profits pushed its earnings per share to Rs.4.03 from Rs.1.23 in the last period.

Krishna Prasad, managing director, said, “The second quarter demonstrates that we are continuing to build on our success. We have been able to more than double our market share in several products in five years due to our focus on quality and productivity and expect to increase market share. Our operational excellence program has played an important part in increasing productivity and is one of the primary reasons that revenue has grown 30 per cent while profitability margins have increased in the current fiscal year.”

The company finished its PFI expansion and now has capacity of 18,000 tonnes, which is the largest capacity in the pharma industry. It commercialized the new capacity in October and will scale up production throughout the third quarter. In addition, Granules is on track to finish its finished dosage expansion during the third quarter. Due to the increase of capacities throughout its product lines, Granules anticipates growth to accelerate in the second half of the fiscal year.

The company's sales for the first half ended September 2012 increased by 30.2 per cent to Rs.364.77 crore from Rs.280.15 crore in the corresponding period of last year. Its R&D expenditure increased to Rs.2.97 crore from Rs.1.59 crore. The net profit 157 per cent to Rs.14.35 crore from Rs.5.59 crore.

 

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