Granules India Ltd. has for the quarter ended September posted a consolidated net profit of Rs.40.82 crore, a 26 per cent increase over the Rs.32.27 crore registered in the year earlier period.
The total income went up marginally, by 3 per cent to Rs.363.80 crore (Rs.352.90 crore). Chairman and managing director Krishna Prasad Chigurupati said both the “API and PFI capacity enhancements within our base business and greenfield API facility in Vizag are on track. We are happy to see an increasing share of revenue coming from our formulation division which focuses on the U.S., European and Canadian markets.”
The company’s Board of Directors declared a second interim dividend of 20 paise per share of face value of Re. 1 each. The meeting also approved setting up a wholly-owned subsidiary in the U.K. and to invest up to GBP 1,00,000 in the form of equity or a loan.
