Q3 revenue up 15 per cent net profit up 58 per cent

Hyderabad, Apr 21 (UNI) Granules India Ltd (GIL), a fully integrated pharmaceutical manufacturing company has commissioned its state of art, cGMP compliant 8000 TPA Paracetamol plant in March 2006 at Bonthapally at the city outskirts to expand operations in the regulated market, drive its revenues and improve its margins.

The company announced its third quarter results for March 2006 showing that the sales rose by 15 per cent to Rs 44.88 crore as compared to Rs 39.04 crore in the third quater FY 05. Net profit during the period grew 58 per cent to Rs 2.79 crore against Rs 1.77 crore the previous year. The rise was primarily due to better realisation, increased contribution from PFIs and economy of scale.

For the nine months ended March 2006, sales rose by 31 per cent to Rs 132.59 crore while Net profit rose by 49 per cent to Rs 7.00 crore as compared to the previous corresponding period. North America accounted for 45 per cent, South America 19 per cent and domestic markets 20 per cent of the total turnover.

Mr Krishna Prasad, Managing Director, Granules India Ltd, said, ''Our focus on expanding capacities and targeting regulated markets should give us stable growth. We will be targeting new customers in regulated markets in the US and Europe in the PFI segment. Our unique positioning in the pharamaceutical value chain ensures a unique proposition for global Pharma giants looking at outsourcing''.

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