Granules India shares jump over 7 pc after strong Q1 results

New Delhi, Jul 31 (PTI) Shares of Granules India jumped more than 7 per cent on Wednesday after the company posted a nearly three-fold rise in net profit to Rs 135 crore in the June quarter.

The stock of the company rallied 7.29 per cent to close at Rs 631.90 apiece on the National Stock Exchange (NSE).

On the BSE, Granules India scrip surged 7.24 per cent to settle at Rs 630.35 per piece.

In the intra-day trade, the company's share hit its 52-week high of Rs 633 and Rs 632.70 on the BSE and NSE, respectively.

On the volume front, 1.41 crore equity shares were traded on the NSE while 3.31 lakh shares changed hands on the BSE during the day.

The 30-share BSE Sensex settled higher by 285.94 points or 0.35 per cent at 81,741.34 while NSE Nifty rose 93.85 points or 0.38 per cent to close at an all-time high of 24,951.15.

Granules India on Tuesday said its profit after tax (PAT) rose nearly three-fold year-on-year to Rs 135 crore for the first quarter ended June 30, 2024. The drug maker had reported a PAT of Rs 48 crore in the April-June quarter of last fiscal, the Hyderabad-based firm said in a regulatory filing.

Revenue from operations rose to Rs 1,180 crore for the period under review from Rs 985 crore in the year-ago period, it added. PTI HG SHW