Granules India profit up 37% as costs decline

Granules-India-LtdGranules India’s net profit increased by 37%  to Rs. 39 Cr during April-June period.. The increase in profit is because of better liquidation of inventory, which is almost 10 times, and lower cost of materials compared to the same quarter the previous year.

Revenue increased by 7% from Rs. 323 the previous year to Rs.344 cr in Q1.

Krishna Prasad Chigurupati, Chairman and MD, said that though top line growth was slightly subdued the company again was able to demonstrated their strength in operational excellence with improved bottom line.

He further added that acquisition of 12.5% stakes in USpharma was in line with the company’s organizational strategy of solidifying their presence in the US market.