Granules consolidated net profit up 8 pc to Rs 119. 6 cr

Hyderabad, May 17 Granules India Ltd., a vertically integrated pharmaceutical company, on Tuesday reported a 8 per cent increase in consolidated net profit to Rs 119.6 crores for the financial year ended March 31, 2023 against Rs 111 crore in the corresponding quarter in the previous year.
Revenue from Operations for the quarter stood at INR 1195.5 crores , a growth of 16 per cent YoY, primarily driven by higher sales in key geographies including US and Europe, Hyderabad-based pharma company said in a statement here.
Revenue share from the USA increased to 54 per cent in Q4 FY23 as compared to 48 percent YoY.
Active Pharmaceuticals Ingredients (API), Pharmaceutical Formulation Intermediates (PFI),and Finished dosages contribute 31 percent, 18 percent, and 51 percent of revenue from operations respectively for Q4FY23.
However, for the full year in FY23, the company’s consolidated net profit increased 25 per cent to Rs 516.6 crores against Rs 412.7 crores in FY22.
Commenting on the results, Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “We have grown in terms of revenues year on year as well as sequential quarter despite the price erosion challenges in our key geographies including the US.
Our Cash flow from operations have improved significantly this year as compared to FY22. This shows the strength of our business and will also help us fund our green initiatives in the coming quarters and years. We are moving towards a more sustainability driven approach in the future and all our efforts and plans are geared towards that, he added.