The Hindu Business Line : Granules India net up 36.5%

Granules India Ltd’s net profit increased 36.5 per cent at Rs 2.74 crore in the first quarter ended September 30, 2008 compared with Rs 2.02 crore in the corresponding quarter of previous fiscal. The total income had gone up over 60 per cent to Rs 81.4 crore (Rs 50 crore). However, a sharp increase in the cost of raw materials pushed up total expenditure 67 per cent to Rs 74.1 crore (Rs 44.6 crore). The foreign exchange fluctuations hit the company to the tune of Rs 2.4 crore. The EPS stood at Rs 1.37 as against Rs 1.01 in the year-ago period. During the quarter, the company had commenced operations in its tablet division. The 16 lakh share warrants issued earlier had lapsed on September 27, 2008 and hence were forfeited, according to a release. The board of directors of the company has recommended a final dividend of 12.5 per cent for the financial year 2007-08, it added. —

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