Granules posts `39 cr Q3 net

Hyderabad: City-based Granules India Ltd registered a 34 per cent upswing in net profit to Rs 39 crore during third quarter ended in December last year, compared to Rs 29 crore in the same quarter a year ago.

The company’s revenues had increased by 11 per cent to Rs 359 crore from Rs 325 crore a year ago. The standalone sales for the quarter stood at Rs 337 crore, the company said in a release.

Its Board of Directors approved third interim dividend of 25 paise per share of face value of Rs 1 each for the financial year 2016-17. Krishna Prasad Chigurupati, Chairman & Managing Director, Granules India, attributed the healthy net profit growth to company’s efficiency ecosystem and increased profitability from its joint venture companies.