Jubilant Life Q3 net profit up 80% to Rs212.84 crore
New Delhi: Drug firm Jubilant Life Sciences on Wednesday reported a 80.20% rise in its consolidated net profit to Rs212.84 crore for the third quarter ended December 2017 mainly on account of robust sales in Speciality Pharma—Injectables and Life Science Ingredients segments.
The company had posted a net profit of Rs118.11 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a BSE filing. Consolidated total revenue from operations also rose to Rs2,067.76 crore for the quarter under consideration as against Rs1,491.64 crore for the same period a year ago.
“The company has reported highest ever revenue and profitability driven by our Speciality Pharma—Injectables business and our Life Science Ingredients segment,” Jubilant Life Sciences chairman Shyam S. Bhartia and Co-Chairman and MD Hari S. Bhartia said. The company continues to reduce debt levels through internal cash generation for a strong balance sheet, they added.
Pharmaceuticals revenue stood at Rs1,101 crore for the quarter contributing 53% to the revenues, up 41% year-on-year. Life Science Ingredients revenue was at Rs922 crore, contributing 45% to the revenues, up 46% year-on-year, Jubilant Life Sciences said. Drug discovery solutions revenue was at Rs45 crore for the third quarter this fiscal, contributing 2% to the revenues, it added.
International revenues were at Rs1,482 crore for the quarter under review contributing 72% to the overall revenues, the company said. In a separate filing, Jubilant Life Sciences said its board has approved the resignation of Pramod Yadav as director and whole-time director of the company consequent to his appointment as CEO designate of Jubilant Pharma Ltd.
The board has also approved the appointment of Rajesh Srivastava as an additional director and whole-time director of the company with immediate effect, it added. Shares of Jubilant Life Sciences on Wednesday closed steep 13.64% higher at Rs921.25 per scrip on BSE.