Thursday, Oct 6 2022 | Time 22:08 Hrs(IST)
image
Business Economy


Granules Q1 PAT up 6 pc YoY to Rs 128 Cr

Hyderabad, Aug 10 (UNI) Granules India, a vertically integrated pharmaceutical company, on Wednesday reported a 6 per cent increase in consolidated net profit to Rs 128 for the quarter ended June 30, 2022 as against Rs 120 crores in the corresponding quarter in previous year.
Income from operations grew by 20 per cent year-on-year to Rs 1,020 crore during the quarter as compared to Rs 850 crore in Q1FY22, Hyderabad-based Pharma Company said in a release here.
EBITDA stood at Rs 212 crore in Q1FY23, increasing 5 per cent year-on-year.
The revenue share from Europe increased 22.5 percent when compared to 16.8 percent Y-o-Y while the revenue share of non-core molecules stood at 18 per cent Q1FY23 when compared to 17 percent in Q1FY22, in line with our long-term strategy.
During the quarter, the Pharma Company filed five ANDAs, two US DMFs, and received one US, one EU and one Canadian approval.
Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI) and Finished dosages contribute 23 percent, 23 percent and 54 percent of total revenue respectively.
The Company has acquired capital assets of a small Biotech Company to gain a ready platform for biotechnology focused research and manufacturing.
The Company has received approval from the Department of Pharmaceuticals (DOP) under Production Linked Incentive (PLI) Scheme to manufacture Dicyandiamide (DCDA).
Board of directors approved a buyback of 6,250,000 equity shares at a price of Rs. 400 per equity share for an aggregate maximum amount of Rs.250 crores.
Commenting on the results, Dr Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “As we enter FY23, we are excited about Granules 2.0 strategy. US pricing pressure, increased cost of raw materials, solvents and Logistics are the challenges and continue performing with sustained growth and predictability.”
The Company has 7 manufacturing facilities out of which 6 are in India and 1 in USA.
UNI KNR GK
More News
World Bank slashes India's FY23 GDP growth forecast to 6 5 pc

World Bank slashes India's FY23 GDP growth forecast to 6 5 pc

06 Oct 2022 | 9:24 PM

New Delhi, Oct 6 (UNI) Amid recession fears in major advanced economies, the World Bank on Thursday cut India's gross domestic product (GDP) growth forecast for financial year 2022-23 to 6.5% from its earlier estimate of 7.5%.

see more..
Piyush Goyal asks QCI to make 'quality' national mission

Piyush Goyal asks QCI to make 'quality' national mission

06 Oct 2022 | 8:37 PM

New Delhi, Oct 6 (UNI) Union Commerce Minister Piyush Goyal on Thursday asked Quality Council of India (QCI) to bring about convergence of all quality and standards in organizations in the country to make quality a national mission.

see more..

06 Oct 2022 | 8:04 PM

UNI NK GNK.

see more..

HDFC Bank opens 'SmartHub Vyapar' for bizmen

06 Oct 2022 | 7:14 PM

Pune, Oct 6 ( UNI) HDFC Bank, India’s largest private sector bank with dominant market leadership in merchant acquiring business, Thursday announced the launch of 'SmartHub Vyapar Merchant' app, a comprehensive payments and banking solution designed to fulfill the everyday business needs of traders.

see more..
Piyush Goyal asks CAs to strive to take chartered accountancy firms to global level

Piyush Goyal asks CAs to strive to take chartered accountancy firms to global level

06 Oct 2022 | 5:38 PM

New Delhi, Oct 6 (UNI) Union Commerce Minister Piyush Goyal on Thursday called upon chartered accountants to strive to make India’s chartered accountancy firms global level companies.

see more..
image