Granules India's Earnings Dip Amid Strategic Enhancements

Granules India reported a 6% decline in quarterly profits, amounting to Rs 118 crore. Revenue also fell slightly. Despite these financial setbacks, the company continues to grow in the finished dosages sector, focusing on quality improvements. Production at its Gagillapur plant resumed after a temporary halt.

Drug company Granules India announced a 6% drop in its consolidated profit after tax, reporting Rs 118 crore for the third quarter ending December 31, 2024. This is a decrease from Rs 126 crore in the same period last year.

The firm, based in Hyderabad, also saw a slight decline in revenue from operations, falling to Rs 1,138 crore compared to Rs 1,156 crore the previous year. In a regulatory filing, Granules India indicated sustained growth in its finished dosages segment, particularly from its North America business.

The company temporarily halted production at its Gagillapur plant in September due to USFDA observations but resumed in October. Despite this setback, progress on the greenfield formulation expansion at GLS continues, promising future growth.

(With inputs from agencies.)