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Drug maker Granules India’s consolidated net profit increased 71 per cent at ₹164 crore in the second quarter ended September 30, 2020 compared to ₹96 crore in the same quarter last year.
The total revenue for the Hyderabad-based company increased by 22.7 per cent at ₹858 crore (₹700 crore) driven by new launches and increase in market share of existing products in three verticals.
“Our second quarter performance which were much better than committed guidance gives us confidence that we are on track to end the year’s performance as envisaged, and we expect to maintain our path on delivering superior shareholder value,” Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India, said in a release.
Also read: Granules India jumps on stake sale buzz
Granules had received approvals for four finished dosage products, during the quarter under review.
Interim dividend
The board of directors of the company recommended a second interim dividend of 25 paise per share of face value of ₹1 each.
Granules’ scrip increased 1.67 per cent on the Bombay Stock Exchange and is trading at ₹398 by noon.
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