The Hindu Business Line : Granules India Q3 net up 53%

GRANULES India Ltd, a Hyderabad-based pharmaceutical company, has announced a growth of 43 per cent in net sales and 53 per cent in net profit for the quarter ended December 2005.

In a press release here, the company said it achieved a net sales of Rs 44.44 crore, against Rs 31.15 crore in the corresponding previous quarter, and a net profit of Rs 2.21 crore (Rs 1.44 crore), yielding an EPS of Rs 1.80 (Rs 1.69) on an expanded equity of Rs 12.31 crore (Rs 8.55 crore).

The share capital has increased on account of a GDR issue. According to the Granules India Chairman, Dr C. Nageswara Rao, the proceeds of this issue were mainly being used for expansion projects that were in various stages of implementation and were yet to contribute to the earnings.

The company said the implementation of an active pharmaceutical ingredients plant for manufacture of 8,000 tonnes of Paracetamol had been completed and the trial runs were in progress.

The commercial production is expected to commence from next month.

The implementation of the 6-million-tablet facility has also begun.

Both these facilities are being built to obtain international regulatory approvals.