Granules India’s Q3 FY20 profit increased 6.1% y/y to Rs 64 crore, while revenue was up 11.4% y/y to Rs 704 crore. The margin expanded 390bps y/y to 21.8%. Also, the board approved share buyback of up to 1.25 crore equity share at Rs 200 per share. The stock closed 5% lower.