By: IPP Bureau
Last updated : January 27, 2025 7:37 am
The company said it voluntarily paused production at the Gagillapur plant in September 2024 for risk assessment on account of the USFDA observations
Granules India Ltd. has reported 6.4% decline in its profit after tax (PAT) to Rs. 117.6 crore as against Rs. 125.6 crore reported in the year-ago period. Revenue from operations of the company in Q3 FY25 plunged to Rs. 1,137.6 crore, down 1.5% as compared to Rs. 1,156 crore reported in Q3 FY24.
Commenting on the results, Dr Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India Limited said, “We continue to sustain our profitable growth in the finished dosages segment, driven by our North America business. We are enhancing quality and compliance through systemic improvements across our operations, including Gagillapur. Progress on our greenfield formulation expansion at GLS remains on track, reinforcing our capabilities and driving future growth.”
The company said it voluntarily paused production at the Gagillapur plant in September 2024 for risk assessment on account of the USFDA observations. Subsequently, the production resumed in October in a staggered manner, it added.
Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of the company fell 8% to Rs. 230.2 crore. EBITDA margin stood at 20.2% as against 22% in the year-ago period.
The North American market of the company led the charts, contributing 77% of its total revenue in the reporting quarter as compared to 66% in Q3 FY25.