Granules Q4 FY14 net up 90.33% to Rs 23.62 crore

Pharmaceutical firm Granules India posted a 90.33 percent increase in consolidated net profit to Rs 23.62 crore for the fourth quarter ended March 31, as against Rs 12.41 crore during the corresponding period last fiscal.

Its total income during the period under review increased to Rs 317.47 crore from Rs 204.38 crore in Q4 last year, registering a 55.33 percent rise, a statement issued here today stated.

Growth was driven by strong performances across all manufacturing facilities including the company's Chinese joint venture, the release said.

For the entire year, the company posted a 131 percent increase in profit at Rs 75.23 and a revenue growth of 43.36 percent at Rs 1,095.86 crore compared to Rs 764.37 crore and Rs 32.56 crore, respectively.

"The past fiscal year was exciting for Granules. We were able to increase sales while improving profitability due to our relentless focus on delivering high-quality material at a cost-effective price," Granules India Managing Director Krishna Prasad said.

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The primary growth driver in FY14 was led by the commercialisation of PFI (pharmaceutical formulation intermediates) and finished dosage expansion at the Gagillapur facility, he said.

Besides, the company also improved utilisation in the newly expanded facility throughout the year and expects to continue improving utilisation in the future. In addition, the API (Active Pharmaceutical Ingredients) facilities continued to increase production which contributed to strong sales.

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