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Granules India Ltd's consolidated net profit increased 42 per cent, to Rs 8 crore in the third quarter ended December 31, 2011 compared with Rs 5.6 crore in the year-ago period.
The total revenue of the Hyderabad-based company increased by 45 per cent, to Rs 465 crore.
“The strong growth in finished dosages segment, among other factors, is behind our growth,” Mr C. Krishna Prasad, Managing Director of Granules India told newspersons here on Tuesday.
The company had achieved a compound annual growth rate of 27 per cent as against around 14 per cent growth for the industry.
The company is expanding its capacity and has already invested Rs 100 crore in expanding pharmaceutical formulation ingredients and finished dosages capacity in the current financial year.
The projects were almost completed and commissioned for production by April/May, he said.
Following a joint venture Granules India formed with the Belgium-based Ajinomoto OmniChem last year, the construction of a factory in Visakhapatnam would commence next month.
The full impact of the capacity addition would be seen during 2012-13, he added.
Acquisitions
Granules India is also looking for growth through acquisitions. “We are on the lookout… it need not necessarily be a pharma company; it could be a chemical company as well,” Mr Krishna Prasad said.
The company's scrip declined 0.15 per cent to end at Rs 65.80 on the Bombay Stock Exchange Tuesday.
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