Net Profit rises by 37 per cent to Rs 39 crores
Granules India, a growing pharma manufacturing company, announced the financial results for its first quarter ended June 30, 2016.
Consolidated Q1FY17 financial results highlights:
Revenue: Rs 344 crores, an increase of 7 per cent compared to Rs 323 crores in Q1FY16
EBITDA: Rs 72 crores, an increase of 12 per cent compared to Rs. 64 crores in Q1FY16
Operating Margin improved by 96 basis point to 20.8 per cent from 19.9 per cent in Q1FY16
Net Profit: Rs 39 crores, an increase of 37 per cent compared to Rs. 29 crores in Q1FY16
Net Profit Margin improved by 249 basis point to 11.3 per cent from 8.8 per cent in Q1FY16
The Company’s standalone sales during the quarter were Rs 337 crores, an increase of four per cent from same quarter previous year. EBITDA and PAT increased by 16 per cent and 17 per cent to Rs 76 crores and Rs 36 crores compared to last year.
The Company’s Board of Directors has approved interim dividend of 20 paise per share of face value of Rs 1 each.
“Our top-line growth was slightly subdued but we have once again demonstrated our strength in operational excellence with improved bottom line. On business front, Granules Pharmaceuticals, our US based wholly owned subsidiary entered into an agreement with US pharma to acquire 12.5 per cent of its stake. US pharma in collaboration with its manufacturing partners had submitted five ANDAs with Paragraph IV certifications, out of which four ANDAs have already been out licensed to us exclusively. These are in line with our organisational strategy of solidifying our presence in the US market and enhancing product portfolio by leveraging both internal and external product development capabilities,” said Krishna Prasad Chigurupati, Chairman & Managing Director.
EP News Bureau