Granules India has reported an increase of 80 per cent in September quarter net profit against ₹81 crore reported in the same period last year.
The revenue of the Hyderabad-based company grew 30 per cent to ₹1,151 crore compared to ₹888 crore in Q2 FY22.
The active pharmaceuticals ingredients (APIs), pharmaceutical formulation intermediates (PFI), and finished dosages contributed 29 percent, 20 per cent and 51 percent of revenue from operations, respectively.
“The current quarter result is a combination of our relentless focus for supply reliability and customer satisfaction and ability to respond and cater to higher demand with a short turnaround time,’’ Krishna Prasad Chigurupati, Chairman & Managing Director, Granules India, said in a release.
“Opportunities in Paracetamol are likely to continue and our geography expansion strategy in Europe is likely to yield bigger turnover and EBITDA in future periods,’’ he added.
During the quarter under review, Granules filed two abbreviated new drug applications (ANDAs), two US drug master files and three certification of suitability (CEPs).
It received two US ANDA approvals