Paracetamol producer Granules India posts 23 per cent rise in Q3 profit

Pharmaceutical firm Granules India Ltd, reported a 23 per cent rise in third-quarter profit on Tuesday, propelled by strong demand for the painkiller drug Paracetamol. Consolidated profit rose to 1.24 billion rupees ($15.22 million) for the three months ended Dec. 31, from 1.01 billion rupees a year earlier. Consolidated revenue for the company rose nearly 15 per cent to 11.46 billion rupees, "primarily driven by higher Paracetamol API sales in the US," the firm said in an exchange filing.

"Opportunities in paracetamol are likely to persist, and our geographic expansion strategy in Europe is likely to result in higher turnover and EBITDA in future periods," said Chairman Krishna Prasad Chigurupati. Granules, which also manufactures the anti-inflammatory drug Ibuprofen, reported that finished dosages, the final ready-for-consumption product, accounted for 45.6% of its revenue. Active pharmaceutical ingredients and pharmaceutical formulation intermediates contributed 35.8 per cent and 18.6 per cent, respectively, to the drug manufacturer's revenue.Shares of the company climbed as much as 1.5 per cent to 316.8 rupees, hitting a one-week high after the results. They declined 5.2 per cent in 2022, compared with an 11.4 per cent fall in the Nifty Pharma index.