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.