HYDERABAD: City headquartered pharma player
Granules India Ltd
on Tuesday reported an increase of 26% in
net profit
for the second quarter of FY17 at Rs 41 crore as compared to Rs 32.27 crore in the year ago period.
This was on a 3% rise in the income of the company at Rs 363.80 crore in the second quarter ended at September 30, 2016, as against Rs 352.90 crore in the corresponding quarter last fiscal.
Commenting on the results,
Granules
chairman and managing director Krishna Prasad Chigurupati said, “We are focused to achieve our long-term goals as we move ahead in the investment phase. Our API and PFI capacity enhancements within our base
business
and greenfield API facility in Vizag are both on track. In addition, our product development and subsequent filling continues to make steady progress. We are also happy to see an increasing share of revenue coming from our formulation division which focuses on the US, European and Canadian markets."
Swati Rathor is a senior correspondent with The Times of India at...
Read MoreSwati Rathor is a senior correspondent with The Times of India at Hyderabad. She has over two years of experience covering a range of corporates and sectors. While not at work, she loves to travel, read and cook.
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