Granules India net profit up 80 percent at Rs 145 crore in Q2
Bengaluru: Pharmaceutical company Granules India Ltd reported an 80% surge in quarterly profit on Thursday, boosted by higher sales of the painkiller drug Paracetamol.
Consolidated profit for the company, which also makes the 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.
Read also: Granules India bags USFDA okay for Guaifenesin and Pseudoephedrine Hydrochloride ER Tablets
Granules India is an Indian pharmaceutical manufacturing company that was founded in 1984 and named Triton Laboratories located in Hyderabad, India.
Granules manufactures varieties of drugs including Paracetamol, Ibuprofen, Metformin, and Guaifenesin, on a large scale for customers in the domestic as well as international markets.
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