Granules India gains on Q4 net profit beat

NEW DELHI: Shares of Granules India ended higher by 1.13 per cent on Friday after the company said it saw its net profit for the quarter ending March 31, 2016 grow 48 per cent to Rs 33 crore on account of manufacturing efficiency.

The company had reported a net profit of Rs 22 crore for the same quarter a year ago.

Reacting to the earnings, the scrip gained 4.20 per cent to hit a high of Rs 138.7 on the BSE. The stock has slumped 9 per cent in the year so far. Revenues rose 5 per cent to Rs 373 crore from Rs 355 crore.