Granules India Ltd has reported a slightly lower net of Rs 12.41 crore (Rs 16.3 crore) during the fourth quarter of fiscal 2012-13 ended March 31, though its net sales were at a high of Rs 204 crore (Rs 188 crore) when compared to the same period, the previous fiscal.
The Hyderabad-based pharma company recorded a Rs 7.8-crore, one-time gain on forex during the last quarter of fiscal 2011-12, which explains the dip, the company spokesperson said.
For the fiscal FY 13, the company achieved net sales of Rs 764 crore (Rs 654 crore), a 17 per cent increase over the previous year. The net profit stood at Rs 33 crore (Rs 30 crore), a growth of eight per cent, said a press release.
Granules also announced the completion of the expansion at its Gagillapur facility.
Managing Director C. Krishna Prasad said: “While we faced a setback in scaling up our formulation expansion, we are optimistic for the future. The ability to provide high-quality products at a cost effective price and work closely with market leaders has resulted in sustainable revenue. In FY14, we will continue to shift to formulations which will result in an improvement in profitability.”
Granules is into producing pharmaceutical formulation intermediates (PFIs), Active Pharmaceutical Intermediates (APIs) and off patent drugs. Its Gagillapur plant (a finished dosage unit) has a capacity of producing 6 million tonnes a year of PFIs.
The company scrip closed at Rs 112.25, up by Rs 10.95 for the day on the BSE.