Granules India, a Rs.1,400 crore plus pharma giant from Hyderabad, has posted better consolidated net profit growth of 26.5 per cent during the second quarter ended September 2016 to Rs.40.82 crore as against Rs.32.27 crore in the similar period of last year. Its EBDITA moved up by 12.5 per cent to Rs.78.09 crore from Rs.69.44 crore. However, its net sales increased only by 3.1 per cent to Rs.363.57 crore from Rs. 352.69 crore. EPS improved to Rs.1.88 from Rs.1.58 in the last period.
The board of directors has declared second interim dividend of 20 per cent. During the quarter, the company has allotted 1.70 lakh equity shares of Rs.1 each under employee stock option scheme.
Krishna Prasad Chigurupati, chairman & managing director, said, “We are focused to achieve our long term goals as we move ahead in the investment phase. Our API and PFI capacity enhancements within our base business and greenfield API facility in Vizag are both on track. In addition, our product development and subsequent filling continues to make steady progress. During the quarter, the US FDA approved our ANDA for ibuprofen 200 mg orange tablets which enhances our product portfolio. We are also happy to see an increasing share of revenue coming from our formulation division which focuses on the US, European and Canadian markets.”
For the first half ended September 2016, Granules' consolidated net sales increased by 4.6 per cent to Rs.713.14 crore from Rs.681.72 crore in the same period of last year. Its net profit went up by 31.2 per cent to Rs.79.78 crore from Rs.60.81 crore. Better growth in profits, pushed its EPS to Rs.3.68 as compared to Rs.2.97 in the last period.