Mumbai: Pharmaceutical firm Jubilant Organosys on Tuesday said its consolidated net profit for the quarter ended 31 June, 2009 jumped nearly ten-fold to Rs125.82 crore due to mark-to-market gains over the same period last year.
The company had a net profit of Rs12.76 crore in the same period ended June 2008, Jubilant Organosys said in a filing to the Bombay Stock Exchange (BSE).
“Going forward improved capacity utilisation, better synergies from integration and new collaborations with global pharmaceutical companies will deliver expected growth and improvement in margins,” Jubilant Organosys CMD Shyam S Bhartia and co-chairman & MD Hari S Bhartia said in Mumbay.
During the first quarter the company had a gain of Rs49.1 crore. This comprises a gain of Rs71.2 crore on a mark-to-market of unassigned forward contracts outstanding as on 30 June, 2009 and unrealised loss of Rs22.1 crore on foreign currency loans, the BSE filing added.
Total income rose to Rs901.33 crore in the June quarter of the current fiscal against Rs831.02 crore in the same quarter last year.
On a standalone basis the company has posted a net profit of Rs145.03 crore for the quarter ended 30 June, 2009 registering nearly a ten-fold jump from Rs14.51 crore for the quarter ended 30 June, 2008.
Shares of Jubilant Organosys on Tuesday closed at Rs166 on the BSE, up 4.76% from previous close.