Granules India Ltd’s net profit declined 27 per cent to Rs 5.8 crore in the third quarter ended December 31, 2012 compared with Rs 8 crore in the year-ago period.
Revenues of the Hyderabad-based company, however, grew 5 per cent to Rs 195 crore.
The company’s scrip was trading down 10.67 at Rs 141 in the afternoon session on the BSE.
The reason for dip in profits was delay in commercialisation of the ongoing capacity expansion and higher expenses on employees’ front and power expenses, C. Harsha, Executive Director, Granules India. told newspersons here on Thursday.
The company is hoping that the new capacities would go online in the first quarter of next fiscal.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.