Granules Q3 net profit up 8%

Board approves fund raising and stock split plans

Granules India Limited reported a consolidated net profit of Rs 23.56 crore for the quarter ended December, 2014, an increase of 8.06 per cent over the net profit of Rs 21.80 crore in the corresponding quarter previous year.

Total income from operations grew 12.54 per cent to Rs 319.67 crore from Rs 284.05 crore in the year ago period. Expenditure rose 13.15 per cent to Rs 278.80 crore from Rs 246.39 crore on account of higher manufacturing and employee benefit expenses among others.

Focus on operational efficiency helped improve Ebitda margin by 127 basis points compared with the corresponding quarter in the previous fiscal. Finished dosages continue to be the largest contributor to the business and constituted 42 per cent of stand-alone sales,” it said .

The board today approved fund raising by issue of equity shares to QIB to the extent of Rs 250 crore with applicable greenshoe option through QIP. It also approved split/sub-division of the face value of company’s equity shares from Rs 10 each to Re 1 each, subject to the approval of shareholders.