Granules India Q1 net profit rises 34 pc to Rs 111.4 cr

The company had posted a net profit of Rs 83.24 crore for the corresponding period of the previous financial year, Granules India said in a filing to the BSE. Its consolidated revenue from operations stood at Rs 735.59 crore for the quarter under consideration.

Drug firm Granules India on Friday reported a 33.87 percent rise in its consolidated net profit to Rs 111.44 crore for the quarter ended June 30, 2020, mainly on account of robust sales. The company had posted a net profit of Rs 83.24 crore for the corresponding period of the previous financial year, Granules India said in a filing to the BSE.

Its consolidated revenue from operations stood at Rs 735.59 crore for the quarter under consideration. It was Rs 595.27 crore for the same period a year ago, it added. "This is the result of operational excellence and a vigilant watch over our margins through optimization of the product mix and by increased capacities and optimal capacity utilization," Granules India Chairman and MD Krishna Prasad Chigurupati said.

The company also declared its first interim dividend of 25 paise per share of the face value of Re 1 each representing 25 percent of paid-up capital for the financial year 2020-21, Granules India said. Shares of Granules India Ltd were trading at Rs 253.90 per scrip on the BSE, up 3.23 percent from its previous close.