return to news
  1. Granules India posts marginal rise in Q3 profit,

Market News

Granules India posts marginal rise in Q3 profit,


1 min read | Updated on January 23, 2024, 15:06 IST

Twitter Page
Linkedin Page
Whatsapp Page


Granules India reports 1.6% rise consolidated profit to ₹126 crore, while its revenue rose 1%

Stock list


Granules India Q3 result update

BENGALURU, Jan 23 (Reuters) - Drug maker Granules India reported a marginal rise in third-quarter profit on Tuesday, helped by easing raw material costs.

The company's consolidated profit rose 1.6% to ₹126 crore according to an exchange filing.

Granules has seen slowing profit growth since the third quarter of 2022. It reported a fall in profit for the past two quarters as it grappled with soaring costs.

The company reported a 0.6% climb in expenses for the third quarter, helped by a 7% fall in raw material costs. In contrast, expenses ranged between 9% and 17% in the last four quarters.

This resulted in a flat profit margin year-on-year at 11%.

Revenue rose 1% to ₹1,156 crore, with the fixed dosages segment contributing 66% to the total.

Granules, which focuses on making active pharmaceutical ingredients (API), holds 30% of the global market for Paracetamol. It makes the drug's API and finished dosage, the ready-for-consumption product.

Shares of the company rose as much as 3.2% after the results before paring some gains to trade 0.9% lower.

They climbed about 14% in the December quarter, outperforming a 9% rise in the Nifty Pharma index.

About The Author

Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story