Hyderabad: Granules PAT down 31% in Q3FY22

Hyderabad: Hyderabad-based pharma company Granules India Ltd reported 31 per cent dip in net profit to Rs 101 crore in third quarter (Q3) of financial year 2021-22 when compared to Rs 147 crore in the same quarter last fiscal. However, the company's income from operations rose 18 per cent to Rs 997 crore during Q3 of FY22 against Rs 845 crore in corresponding quarter previous year.

The revenue from Europe increased to 24.5 per cent in Q3 FY22 when compared to 18.6 per cent a year-ago on account of increase in selling prices for paracetamol. During the quarter we filed two abbreviated new drug applications (ANDAs), two Canadian dossiers, one US drug master file (DMF), one certificate of suitability (CEP) and received three ANDA approvals.

Dr Krishna Prasad Chigurupati, CMD of Granules India Ltd said, "We are slowly getting back to the normal as is evident from the revenue growth which came in despite the continuing disruptions and challenging environment such as raw material price increase, unstable supply from China and PAP supply constraints."

"We expect the situation to improve in coming quarters and remain focused on execution and agile to the market opportunities. We are now ready to take a leap to transform our business to the next level. We are strengthening management capabilities and are investing in R&D infrastructure, scientific talent, and partnerships in science and technology," he added.

The Board of Directors has declared its third interim dividend of 25 paise per equity share of Re 1 each.