Jubilant Life Q2 net up 14.51% at Rs145 crore
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New Delhi: Drug firm Jubilant Life Sciences Ltd on Thursday reported a 14.51% rise in consolidated net profit to Rs144.77 crore for the quarter ended 30 September 2016 mainly on account of robust pharmaceuticals sales.
The company had posted a net profit after taxes, minority interest and share of profit/loss of associates of Rs126.42 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.
Consolidated total income from operations, however, dipped to Rs1,419.34 crore the quarter under consideration as against Rs1,491.91 crore for the same period a year ago.
Commenting on the results, Jubilant Life Sciences chairman Shyam S.Bhartia and co-chairman and managing director Hari S.Bhartia, said the business has demonstrated continued strong profitability in an eventful quarter. “We expect to deliver improved performance in the coming quarters, backed by new product launches in our Generics and Specialty businesses,” they added.
Pharmaceuticals revenue was at Rs769 crore for the quarter under consideration, contributing 54% of the revenues; Life Science Ingredients revenue was at Rs613 crore contributing 43% to revenues; Drug Discovery Solutions revenue was at Rs38 crore, contributing 3% to the revenues, the company said.
While the pharmaceuticals revenue grew 8% year-on-year, Life Science Ingredients revenue was down 19% and Drug Discovery Solutions revenue was up 39% year-on-year, it added.
International revenues were at Rs984 crore, contributing 69% to the revenues for the quarter, the company said.
In another filing to the BSE, Jubilant Life Sciences said its board has decided to obtain an enabling approval from the company’s shareholders through postal ballot for issuance of redeemable non-convertible debentures on private placement basis up to an amount of Rs1,000 crore.
Shares of Jubilant Life Sciences on Thursday closed at Rs649.30 per scrip on BSE, down 2.51% from its previous close.