Granules India hits record high on quarterly profit rise

Granules India

30/07/2024 08:39

** Shares of pharma company Granules India  GRAN.NS  rise as much as 3.8% to
record high of 586.5 rupees 
    ** GRAN marks sharpest intraday gain since June 18, set for seventh straight
session of rise
    ** The company reported a near three-fold rise in June-quarter profit to
1.35 billion rupees ($16.1 million) 
    ** "Continued growth in formulation segment, strong North America business,
and product diversification offset Paracetamol API/PFI decline", Chairman
Krishna Prasad Chigurupati said
    ** Stock last up 2.3%, taking YTD gains to 42.5% 


($1 = 83.7275 Indian rupees)

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))