Granules India Posts Net Sales of Rs 128 cr for Q3FY11

PBT before exceptional items up 47%

• Sales of Rs. 128.0 Cr.
• PBT before exceptional items of Rs. 7.1 Cr.
• Net profit of Rs. 5.6 Cr.

Granules India Ltd., a vertically integrated formulation manufacturer, announced financial results for its fiscal year 2011 third quarter ended December 31, 2010. On a consolidated basis, Granules posted sales of Rs. 128.0 Cr., an increase of 4.6% over the same period last year and a net profit of Rs. 5.6 Cr.

Financials for Consolidated Operations - Quarter ended December 31, 2010

• Net Sales: Rs. 128.0 Cr., as compared to the same period last year at Rs. 122.4 Cr. 
• PBT before exceptional items: Rs. 7.1 Cr., as compared to the same period last year at Rs. 4.8 Cr. PBT before exceptional items.
• Net Profit: Rs. 5.6 Cr, as compared to the same period last year at Rs. 6.6 Cr. Profitability is lower due to a Rs. 3.8 Cr. F/X gain last year.
• EPS: Basic EPS was Rs. 2.81 as compared to the same period last year at Rs. 3.27

On a standalone basis, the Company achieved sales of Rs. 110.0 Cr. and a net profit of Rs. 6.3 Cr.

“Our formulation division had a strong increase in utilisation rates during the quarter. The division is starting to generate significant revenue and we expect further growth due to the commencement of several contracts that will start adding to our bottom-line in the upcoming fiscal year. In addition, we are increasing momentum in the U.S. market with the approval of our Ibuprofen 200 mg ANDA and the first commercial shipment of our metformin formulations, which received ANDA approval earlier this fiscal year” said C. Krishna Prasad, Managing Director of Granules.

About Granules India Ltd.
(BSE: 532482, NSE: GRANULES)
Granules India Ltd. is a vertically integrated formulation manufacturer with operations in five countries. The Company is a large-scale manufacturer of Finished Dosages (FDs), Pharmaceutical Formulation Intermediates (PFIs) and Active Pharmaceutical Ingredients (APIs), which are distributed in over 50 countries. The Company’s operations and logistics expertise along with its scale allow Granules to provide customers high quality products across the pharmaceutical manufacturing value chain at a cost-effective price.

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