Granules India Q1 net up 56% at Rs 23 cr

G Naga Sridhar Hyderabad | Updated on July 24, 2014

Granules India Ltd’s consolidated net profit increased 56 per cent at Rs 23 crore in the first quarter ended June 30, 2014 compared to Rs 14.7 crore in the corresponding quarter of previous year.

The total revenue of the Hyderabad based company increased 36 per cent at Rs 311 crore (Rs 228 cr). The consolidated numbers include performance from Auctus, an API manufacturer acquired in February 2014. Auctus contributed Rs 26 cr during the quarter with a net loss of Rs 2.8 cr.

``In addition to the strong performance from the standalone operations, we are seeing positive improvements at Auctus. The team is receiving positive responses from customers and we anticipate the performance at Auctus to start ramping up in the second half of the financial year,’’ said Krishna Prasad, Managing Director of Granules India in a release issued here on Thursday.

During the quarter, the Bonthapally active pharmaceutical ingredients facility of the company successfully completed a USFDA inspection and also was also certified ISO 14001 for Environmental Management Systems and others, the release said.

Granules scrip remained flat on the Bombay Stock Exchange on Thursday to end at Rs 632.50.

Published on July 24, 2014

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