Granules India Q3 net up 15% at Rs 27 crore

Total income from operations at Rs 345 crore, up 8% over the corresponding previous quarter

Hyderabad-based Granules India Limited has reported a 15.24 per cent increase in net profit at Rs 27.16 crore for the quarter ended December 2015 as compared with Rs 23.57 crore in the corresponding quarter previous year.

The total income from operations stood at Rs 345 crore, an increase of 8 per cent over Rs 319.7 crore in the corresponding previous quarter. The pharmaceutical company was able to improve its gross profit and net profit margins during this period on the back of higher share in formulations among other things.

"Though, we have achieved a moderate top-line growth in this quarter, the margin profiles have expanded through manufacturing efficiencies and optimisation of product mix. We expect tour margins to further improve as our sales shift more to formulations, better capacity utilisation and enhanced product basket with higher value products," C Krishna Prasad, chairman and managing director of Granule India said in a press release.

The board of directors of the company has approved payment of third interim dividend of 15 paise per share of face value of Rs 1 each for the financial year 2015-16.