Granules Q4 PAT up 8% at Rs. 119.6 cr

Hyderabad: Granules India Ltd, a vertically integrated pharmaceutical company, reported 8 per cent year-on-year rise in profit after tax (PAT) at Rs 119.6 crore in January-March quarter (Q4) of FY 2022-23 against Rs 111 crore in the same quarter previous financial year. Its revenue from operations increased 16 per cent to Rs 1,195 crore in Q4 FY23 over Rs 1,030 crore in a year-ago period.

For the complete FY23, the company’s PAT has surged up 25 per cent to Rs 516.6 crore when compared to Rs 412.7 crore in FY22. Its revenue from operations grew 20 per cent to Rs 4,512 crore in FY23 against Rs 3,765 crore in FY22. Its net debt stood at Rs 767.1 crore and the net profit margin remained same at 11 per cent in FY23 as well. Dr Krishna Prasad Chigurupati, CMD of Granules India Ltd said, “We have grown in terms of revenues year on year as well as sequential quarter despite the price erosion challenges in our key geographies including the US. Our cash flow from operations improved significantly this year as compared to FY22.

This shows the strength of our business and will also help us fund our green initiatives in the coming quarters and years. We are moving towards a more sustainability driven approach in the future and all our efforts and plans are geared towards that.” The revenue growth in Q4 is primarily driven by higher sales in key geographies including US and Europe. Its share from the USA increased to 54 per cent in Q4 FY23 against 48 per cent YoY.