El Grana have lifted themselves off the bottom of the table after a stunning recovery saw them record a shock victory over their Andalusian rivals on Monday evening
Manu del Moral had put Sevilla ahead inside the first minute of the match but a spirited fightback from Granada saw a Alex Geijo goal and Rico's late strike inflict Sevilla's first defeat of the season.
Sevilla took the lead inside the first minute when Granada failed to deal with Jesus Navas' cross ultimately leading to Roberto parrying Frederic Kanoute's shot into the path of Del Moral, who converted the rebound.
Further chances came the home side's way before the 10 minute mark with Del Moral, Jesus Navas and Piotr Trochowski all squandering opportunities to double Sevilla's lead.
Granada's influence grew and they had a good opportunity to level when they were awarded a free kick in a promising position.
Abel tested the palms of Javi Varas with the set-piece and from the resulting corner a timely intervention from Martin Caceres prevented a tap-in for two lurking Granada players.
Sevilla began to realise that their slender lead was under threat and re-emerged from the break with the intention of finding a second goal and they nearly managed it when Emiliano Armenteros was unchallenged five meters from goal but put his header wide.
Roberto then reacted well to deny Del Moral, Armenteros and Jesus Navas all in quick succession to deny Sevilla a second goal.
Granada's best chance came and went when a corner kick was scrambled to Uche just three meters from goal but inexplicably the Nigerian striker scooped his effort over the bar.
Javi Varas was left-wrong footed when Franco Jara's shot hammered off the crossbar and onto the head of Geijo who gratefully nodded home to level the match with little over 10 minutes remaining.
Granada then stunned the home faithful with a stunning strike in the 90th minute when Rico forced a shot home for the edge of the area to send the travelling support into celebration.
Sevilla were left ruing numerous missed chances as Marcelino Toral's side fall further behind Valencia as a result of this defeat in pursuit of fourth place, the last Champions League spot in the standings.
Meanwhile, Granada lift themselves off the bottom of the table with their dramatic victory and will prepare for the match against Racing in earnest as they look to put their season back on track.