Granules India Q3 Profit Rises Marginally to Rs 126 cr
Jan 23, 2024 17:48
Granules India's consolidated profit after tax rose 1% to Rs 126 crore in Q3 FY24, driven by strong US formulations business performance. Revenue also increased slightly.
New Delhi, Jan 23 (PTI) Drug firm Granules India on Tuesday said its consolidated profit after tax rose 1 per cent to Rs 126 crore for the third quarter ended December 2023.
The company had reported a net profit of Rs 124 crore in the October-December period of last fiscal.
Its revenue from operations increased to Rs 1,156 crore in the period under review from Rs 1,146 crore in the year-ago period, Granules India said in a regulatory filing.
"We had a steady performance this quarter, which is reflected in our improved EBITDA and PAT margins as compared to the previous quarter," Granules India Chairman & Managing Director Krishna Prasad Chigurupati said.
The US formulations business has done well in the third quarter, led by both existing and new products, he added.
Shares of the company ended 1.27 per cent down at Rs 411.45 apiece on the BSE.
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