GIL posts 37.43 per cent growth in net profit in Q2 FY 07

Hyderabad, Jan 19 (UNI) Granules India Limited(GIL), a pharmaceutical formulation intermediates company, today announced a 37.43 per cent jump in net profit at Rs 3.05 crore for the quarter ended December 31, 2006 compared to Rs 2.22 crore in the corresponding quarter ended December 31, 2005.

Net sales during the quarter grew by 12.98 per cent at Rs 50.21 crore for the second quarter ended December 31, 2006 compared to Rs 44.44 crore in the corresponding quarter last year.

For the six months ended period, i.e H1FY 07, Granules had reported revenues of Rs 95.60 crore, a surge of 13 per cent as compared to H1FY 06. Net profit grew by 21 per cent to Rs 5.08 crore, the company said in a release here.

The company is also venturing into contracts for product development with various partner companies. In January 2007, Granules India signed its first Master Services Agreement with GlaxoSmithKline Consumer Healthcare R and D (GSK CH R&D) for product development, the release added.

UNI