-
ALSO READ
Centre may bring 16 common drugs for cough, cold, pain under OTC category
SBI Q1 preview: Treasury loss, subdued loan growth may cloud profitability
Derivatives analyst Nandish Shah recommends Bull Spread on Granules India
Nifty Pharma index surpasses 200-DMA; Cipla, Granules can soar up to 15%
Delhi: Fire breaks out in plastic granules godown, robot helps douse blaze
-
Pharmaceutical company Granules India Ltd reported an 80% surge in quarterly profit on Thursday, boosted by higher sales of painkiller drug Paracetamol.
Consolidated profit for the company, which also makes anti-inflammatory drug Ibuprofen, came in at 1.45 billion Indian rupees ($17.43 million) for the three months ended Sept. 30, compared with 806.8 million rupees in the year ago.
The company said 51% of its revenue came from finished dosages, which is its biggest business. Active pharmaceuticals ingredients and pharmaceutical formulation intermediates contributed 29% and 20%, respectively, to its revenue.
"Opportunities in Paracetamol are likely to continue and our geography expansion strategy in Europe is likely to yield bigger turnover and EBITDA in future periods," Granules Chairman Krishna Prasad Chigurupati said in a statement.
Consolidated revenue rose 29.5% to 11.51 billion rupees.
($1 = 83.1800 Indian rupees)
(Reporting by Rama Venkat in Bengaluru; Editing by Anil D'Silva)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.
Download the Business Standard App for latest Business News and Market News .
First Published: Thu, October 20 2022. 15:51 IST
RECOMMENDED FOR YOU