Granules India Ltd’s consolidated net profit more than doubled at Rs 75 crore in the year ended March 31, 2014 compared to Rs 33 crore in the previous year.
The revenue (net sales) of the Hyderabad–based company grew by 43 per cent at Rs 1,096 crore (Rs 764 crore) ``We were able to increase sales while improving profitability due to our relentless focus on delivering high-quality material at a cost-effective price,’’ Krishna Prasad, Managing Director, Granules India said in a release issued here on Thursday.
The revenue growth was driven by the highest-ever revenue in a quarter registered by the company in the fourth quarter of the year at Rs 317 crore. The basic earnings per share increased to Rs 37.20 (Rs 16.21). It was due to `strong’ performance across all manufacturing facilities.
The commercialisation of pharmaceutical formulation intermediaries and finished dosages expansion programme at the Gagillapur facility also helped improving performance, Granules added.
The board of directors had recommended an increase in dividend to 35% (Rs 3.50 per share) from 20% (Rs.2.00 per share) paid last year.