Granules India Ltd's net profit increased 39 per cent to Rs 46 crore in the fourth quarter ended March 31, 2017 compared with Rs 33 crore in the same period last year.

Revenues, however, declined to Rs 362 crore (Rs 376 crore).

For the full year, the net profit and revenue increased 34 per cent and 4 per cent to 165 crore (Rs 123 crore) and Rs 1,435 crore (Rs 1,383 crore), respectively.

The board of directors has proposed a final dividend of 25 paise/share of face value of Rs 1 each.

“It was an eventful year, where we made several strides to strengthen our core business as well as progressed further with our emerging business initiatives,’’ Krishna Prasad Chigurupati, Chairman & Managing Director, Granules India, said in a release issued here on Thursday.

Work on Active Pharmaceutical Ingredients (API) expansion at Bonthapally and PFI expansion at Gagillapur were on schedule and will contribute "positively'' to Granules’ top line in the current financial year, he added.

The Hyderabad-based company also initiated the construction of latest greenfield facility in Vizag, for venturing into oncology and speciality businesses.

Granules - Ominchem joint venture completed first full year of operations with a net profit of Rs. 25 crore besides USFDA inspection for the facility.

During the year under review, Granules had filed three Abbreviated New Drug Applications (ANDAs) from its Gagillapur facility and one from Virginia facility, USA.

"Post approvals we expect this will boost our product offerings,’’ Chigurupati added.

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