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Granules India Q3 net dips
Integrated formulation manufacturer Granules India has reported a dip in its consolidated net profit for the quarter ended December 31, 2010 at Rs 5.62 crore (Rs 6.56 crore). This was attributed to a foreign exchange gain of Rs 3.8 crore during the quarter last fiscal as against Rs.4.8 lakh this quarter. During the quarter, it recorded net sales of Rs 128 crore (Rs 122.40 crore), reflecting an increase of 4.6 per cent. “Our formulation division had an increase in utilisation rates during the quarter — it is starting to generate significant revenue. We are also increasing momentum in the US market with the approval of our Ibuprofen 200 mg and the first commercial shipment of our metformin formulations, which received ANDA approval earlier this fiscal,” Mr C. Krishna Prasad, Managing Director of the company, said.
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