Granules India Q3 profit jumps on North America, Europe demand
Paracetamol maker Granules India reported a 28% increase in third-quarter profit on Friday, supported by strong demand in its key European and North American markets.
Consolidated profit rose to 1.5 billion rupees ($16.3 million) in the quarter ended December 31, compared with 1.18 billion rupees in the same period a year earlier, News.Az reports, citing Reuters.
Revenue from operations climbed 22% year on year to 13.88 billion rupees, the company said.
North America, which accounts for about two-thirds of Granules India’s overall revenue, recorded a 14% increase in sales during the quarter. Sales in Europe, which contribute around 19% of total revenue, more than doubled over the same period.
Granules India accounts for about 30% of the global paracetamol market and supplies the drug both as an active pharmaceutical ingredient (API) and in finished dosage form across Europe, Canada and South Africa.
APIs are key chemical components that give medicines their therapeutic effect.
Indian API makers are facing pricing pressure in major Western markets due to intensifying competition, even as global drugmakers increasingly look to India to diversify supply chains and cut reliance on Chinese suppliers.
By Nijat Babayev
Similar news
