Granules India Ltd’s net profit increased 8 per cent at Rs 23.6 crore in the third quarter ended December 31, 2014 compared to Rs 22 crore in the year-ago period.

The revenue of the Hyderabad-based company increased 13 per cent at Rs 320 crore (Rs 284 cr) in the same period.

Finished Dosages continue to be the largest contributor to the business and constituted 42 per cent of standalone sales. Sales to the regulated markets increased to 69 per cent against 63 per cent in Q3FY14

``Due to merger of Auctus Pharma Ltd. (APL) with Granules India Ltd. current quarter and year till date up to Dec-2014 stand-alone numbers are not comparable with the previous quarter and the corresponding previous year periods figures,’’ the company said in a release.

The board of directors had approved fund-raising by issue of equity shares to qualified institutional buyers (QIB) to the extent of Rs 250 crore with applicable green shoe option through a qualified institutions placement (QIP).

The board of also approved split/sub-division of the face value of the company’s equity shares from Rs 10 each to Re 1 each.

`` We remain focused on strengthening our existing businesses and developing a product basket through capitalising the strategic efforts we have initiated in the past by way of Auctus acquisition and establishing indigenous Research Centre,’’ said Krishna Prasad, Chairman & Managing Director of Granules India.

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