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Drug firm Granules India on Thursday reported over three-fold jump in consolidated net profit to Rs 64.03 crore for the March quarter of 2018-19, mainly on account of robust sales. The company posted a profit of Rs 20.43 crore for the year-ago period, Granules India said in a filing to BSE.
Total income during the reported quarter stood at Rs 615.19 crore. It was Rs 513.49 crore for the same period a year ago. For 2018-19 financial year, the company posted a profit of Rs 236.40 crore as against Rs 132.59 crore in the previous fiscal. Total income in the last fiscal stood at Rs 2,305.88 crore. It was Rs 1,702.69 crore in 2017-18.
“We achieved this growth on the back of inherent stability of the molecules in our portfolio combined with our relentless focus on efficient manufacturing,” Granules India Chairman and MD Krishna Prasad Chigurupati said. The primary revenue growth driver for this quarter is US formulation business , which complemented in overall improvement in profitability margins compared with same quarter of the previous financial year, he added.
The company said its board “has recommended a final dividend of 25 paise per share of face value of Re 1 each in addition to the interim dividend of Re 75 paise per share already paid for financial year 2019.” Shares of Granules India settled at Rs 113.65 per scrip on BSE, up 4.60 per cent from the previous close.
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