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Granules India Ltd's consolidated net profit increased 37 per cent at Rs 39 crore in the first quarter ended June 30, 2016, compared to Rs 29 crore in the corresponding quarter of previous financial year.
The total revenue of the Hyderabad-based company grew by 7 per cent at Rs 344 crore compared to the year ago period.
The company’s board of directors has approved interim dividend of 20 paise per share of face value of Re 1 each.
“Our topline growth was slightly subdued but we have once again demonstrated our strength in operational excellence with improved bottom line," Krishna Prasad Chigurupati, Chairman & Managing Director, said in a release issued here on Thursday.
On the business front, Granules Pharmaceuticals, Inc, the US based wholly owned subsidiary, entered into an agreement with USpharma to acquire 12.5 per cent of its stake.
USpharma in collaboration with its manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been outlicensed to us exclusively.
"These are in line with our organisational strategy of solidifying our presence in the US market and enhancing product portfolio by leveraging both internal and external product development capabilities," said
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