Drug firm Granules India Q1 consolidated net profit up 8% to Rs 120 cr

Drug firm Granules India on Tuesday reported an 8 per cent rise in its consolidated net profit to Rs 120 crore for the quarter ended June 30, 2021.

The company had posted a net profit of Rs 111 crore for the corresponding period of the previous fiscal, Granules India said in a BSE filing.

Consolidated revenue from operations of the company stood at Rs 850 crore for the quarter under consideration. It was Rs 736 crore for the same period a year ago, it added.

The board of directors has declared its first interim dividend of 25 paise per equity share of Re 1 each, the filing said.

"The last quarter was full of learnings and challenges both in terms of business and battling the pandemic. The business was temporarily impacted, and actions were taken to get it back on track," Granules India Chairman and Managing Director Krishna Prasad Chigurupati said.

Granules India is focusing on making its growth strategy more robust while taking a hard look at its product pipeline which is the company's growth engine, he added.

"While remaining confident of our sustainable growth, efforts will be continued to formalise and follow an orbit changing strategy. I remain confident of our future sustainable growth," Chigurupati said.

Shares of Granules India closed at Rs 364.70 per scrip on BSE, down 3.34 per cent from its previous close.