Granules India’s net profit increased 181 per cent to ₹134 crore in the first quarter ended June 30, 2024, compared with ₹48 crore in the corresponding quarter of previous financial year.
The Hyderabad-based company’s total revenue increased 20 per cent to ₹1,180 crore (₹985 crore), driven by formulations growth.
“With our robust quarterly performance, we are back on our planned trajectory after a few setbacks last year,’‘ Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India, said in a release.
“The Q1 performance highlights include continued growth in our formulation segment, strong North America business and product diversification, which offset the Paracetamol API/PFI decline, promising a brighter future driven by our formulations offering and new product pipeline,’‘ he added.
Granules’ scrip gained 4.15 per cent on the BSE on Tuesday to end at ₹587.80.
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Published on July 30, 2024
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