Granules India Ltd., a growing pharmaceutical company, announced today financial results for its third quarter ended 31st December, 2016.
Consolidated Q3FY17 Financial Results Highlights:-
The Company's standalone sales during the quarter were Rs. 337 Cr. In this quarter the Company recorded EBITDA and PAT of Rs. 79 Cr. and Rs. 35 Cr. respectively.
The Company's Board of Directors has approved third interim dividend of 25 paise per share of face value of Rs. 1 each for the financial year 2016-17.
"We are happy with the continued bottom-line growth in the third quarter of the current fiscal, thanks to our 'efficiency ecosystem' and growing profitability from our joint venture companies. To reinforce top-line growth momentum for the future, we are aggressively pursuing completion of our API and PFI expansion plans and introduction of new products following appropriate fillings strategy," said, Krishna Prasad Chigurupati, Chairman & Managing Director.
"During the quarter, we had two inspections in our Gagillapur facility from US FDA and INFARMED and one in our joint venture facility at Vizag from US FDA. The Gagillapur facility completed the US FDA inspection with no observations. For the observations issued by INFARMED for Gagillapur and US FDA for Vizag, we have submitted our response to the respective regulatory authorities within stipulated time and are hopeful of getting positive response soon. We remain committed towards adhering to regulations and standards benchmarked globally and produce quality drugs for our marquee clients." he added.