 "Granules India Q3FY25 results: Net profit drops 6% to Rs 118 crore")
Drug firm Granules India on Friday said its consolidated profit after tax declined 6 per cent year on year to Rs 118 crore for the third quarter ended December 31, 2024.
The company reported a profit after tax of Rs 126 crore in the October-December quarter of the last fiscal.
Revenue from operations declined to Rs 1,138 crore in the third quarter as against Rs 1,156 crore in the year-ago period, the Hyderabad-based said in a regulatory filing.
"We continue to sustain our profitable growth in the finished dosages segment, driven by our North America business. We are enhancing quality and compliance through systemic improvements across our operations, including Gagillapur," Granules India Chairman & Managing Director Krishna Prasad Chigurupati said.
The company said it voluntarily paused production at the Gagillapur plant in September 2024 for risk assessment on account of the USFDA observations.
Subsequently, the production resumed in October in a staggered manner, it added.
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"Progress on our greenfield formulation expansion at GLS remains on track, reinforcing our capabilities and driving future growth," he added.
Shares of the company were trading 2.75 per cent down at Rs 582.80 apiece on BSE.