Granules India Q2 net soars 228% to Rs 8 cr

Last Updated: Fri, Oct 26, 2012 10:42 hrs

Granules India Ltd today said it has registered a 228 per cent jump in net profit at Rs 8 crore for the quarter ended September 30.

The second quarter profit for fiscal 2011-12 stood at Rs 2.5 crore.

Total revenue has gone up by 9 per cent to Rs 176 crore during reported period from Rs 162 crore of the corresponding period last year.

"Profitability margins expanded due to an increase in finished dosage sales and high production levels at all the facilities," Granules India Managing Director Krishna Prasad said,

The company expects margins to continue expanding due to economies of scale from its formulations capacity expansion and an increasing revenue shift to formulations, he added.

"The second quarter demonstrates that we are continuing to build on our success. We have been able to more than double our market share in several products in five years due to our focus on quality and productivity and expect to increase market share," Prasad said.

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