Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jan, 31 2017

Granules Pharmaceuticals Inc. to get USD20 mn from Granules India

Granules India registered third quarter revenue of Rs. 359 crore, an increase of 11 per cent against Rs. 325 crore during same period last fiscal.

Granules Pharmaceuticals Inc. to get USD20 mn from Granules India

Granules India has announced its move to invest USD20 million in its wholly-owned subsidiary Granules Pharmaceuticals Inc. The board informed the BSE about its move to invest in its US subsidiary.

The Hyderabad-based pharmaceutical company registered a net profit of Rs. 39 crore during the third quarter ended December 31, 2016, a growth of 34 per cent over Rs. 29 crore it logged during the corresponding quarter last fiscal.

The company registered third quarter revenue of Rs. 359 crore, an increase of 11 per cent against Rs. 325 crore during same period last fiscal.

The company stated that its operating margin improved by 189 basis point to 22.4 per cent from 20.5 per cent in Q3FY16. On standalone basis, it logged Rs. 337 crore sales during the quarter and posted a profit of Rs. 35 crore.

The board approved third interim dividend of 25 paise per share of face value Rs. 1 each for the financial year 2016-17. During the quarter, the company had two inspections at its Gagillapur facility by the US FDA and INFARMED and one in joint venture facility at Vizag from the US FDA.

The Gagillapur facility completed the US FDA inspection with no observations.

Krishna Prasad Chigurupati, Chairman and Managing Director, said, "For the observations issued by INFARMED for Gagillapur and the US FDA for Vizag, we have submitted our response to the respective regulatory authorities within the 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."

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Electric Two Wheelers
    At Zypp they to make India carbon-free by electric scooter..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required 600
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • About Us: Gem Selections is a trusted & reliable provider of..
    Locations looking for expansion Delhi
    Establishment year 1987
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 80
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Delhi
  • Preschools
    About Us: E junior proves to be the most comprehensive and..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2018
    Investment size Rs. 50000 - 2lac
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Pune Maharashtra
  • Department & Convenience Stores
    About Us: NEEDS, a well-known brand which opened its first Superstore..
    Locations looking for expansion Haryana
    Establishment year 2002
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 1000
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Faridabad Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities