Granules India Q2 net up 26% at Rs 40.83 crore

Hyderabad-based Granules India Limited has reported a 26.49 per cent increase in consolidated net profit at Rs 40.83 crore for the quarter ended September, 2016 as compared with Rs 32.27 crore in the corresponding quarter previous year. The company's revenues stood at Rs 363.81 crore, an increase of 3 per cent over Rs 352.9 crore in the year ago period.

"We are focused to achieve our long term goals as we move ahead in the investment phase. Our APIs and PFI capacity enhancements within our base business and green field API facility in Vizag are both on track," Granules India chairman and managing director Krishna Prasad Chigurupati said.

During the quarter the US Food and Drug Administration (USFDA) has approved the company's ANDA for ibuprofen 200 mg orange tablets. The share of revenues from formulation division has also been growing, according to Prasad.

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