Granules India net profit rises 8.4% to ₹129.6 crore, dividend announced

Revenue from operations stood at ₹1,175.7 crore in the January-March 2024 period, a 1.7% decline from ₹1,195.5 crore in the corresponding period last year.

For the quarter under review, the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) was up 12% year-on-year (YoY) to ₹2,557 crore, while the EBITDA margin was 22%.

Its revenue share from North America rose by 70% in Q4 FY24 compared to 58% in Q4 FY23.

For FY2024, the net profit of the pharma firm declined 21% to ₹405.3 crore, while the revenue from operations increased 0.1% to ₹4,506.3 crore.

Dividend announced

Granules India's board also recommended a final dividend of ₹1.5 per share with a face value of ₹1 each for the fiscal year 2023-24, representing 150% of the paid-in equity share capital of the company.

Dr Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India, said, "We had a strong uptick in gross margin for the Q4 and for the full year, with continued growth in formulations share coming from US and Europe as part of our global expansion strategy and a higher contribution from new products. While the fiscal year numbers were below expectations due to cyber incident and low paracetamol demand, we are very excited about the way our strategies for the future are playing out and look forward to the upcoming years".

Meanwhile, the company's shares were trading at ₹406.2, up 1.6%, on the NSE.