Granules India announced its financial results for second quarter ended September 30, 2013. Granules consolidated net revenue increased 52 per cent to Rs 266 crores, while consolidated net profit increased 87 per cent to Rs 15 crore.
The net revenue has been reported at Rs 266 crores, an increase of 52 per cent compared to Rs 175.5 crore in Q2FY13. EBITDA is at Rs 33.9 crores, an increase of 59 per cent compared to Rs 21.3 crores in Q2FY13. The net profit has been reported at Rs 15.1 crores, an increase of 87 per cent compared to Rs 8.1 crores in Q2FY13.
“We are focusing on higher capacity utilisation to achieve higher revenues and better margins which resulted in 36 per cent growth in the top-line and 108 per cent growth in the bottom-line. In addition to strong revenue growth, our profitability margins are increasing and we’ve nearly achieved our FY13 PAT in the first half of this year. We expect our margins to further improve as our sales shift more to formulations and capacity utilisation increases. Granules will continue to focus on improving manufacturing efficiency so we can build on our competitive advantage in order to offer unparalleled value for our customers,” said Krishna Prasad, Managing Director, Granules India.
EP News Bureau – Mumbai
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