Companies

Granules India’s Q2 net surges 71% to ₹164 crore

Our Bureau Hyderabad | Updated on October 20, 2020 Published on October 20, 2020

Granules’ board of directors has recommended a second interim dividend of 25 paise per share of face value of ₹1 each.

Drug maker reports 23% rise in revenues

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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Published on October 20, 2020
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