Granules’ revenue increased by 1.8% from the same quarter last year to ₹1,197.5 crore. The company had reported a topline of ₹1,175 crore in the base quarter.
Its Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined by 1.4% year-on-year to ₹252 crore, while margins narrowed by nearly 70 basis points to 21.1% from 21.8% last year.
The company’s net profit increased by 18% from last year to ₹152 crore.
Granules India has been in the news this year due to its Gagillapur facility, where the United States Food and Drugs Administration (USFDA) issued a warning letter to the unit in February, based on the inspection it conducted in August last year.
The violations ranged from contamination, inadequate cleaning, poor maintenance and torn records.
The company’s management had mentioned during the December quarter earnings call that up to 65% of Granules India’s consolidated sales came from the Gagillapur unit.
Granules India’s management had also highlighted on the earnings call that they are expecting revenues to not decline anymore and that the new launches will help the growth in sales.
Shares of Granules India are trading 0.7% lower after the results announcement at ₹524.65. The stock is up 13% in the last one month.
