Jubilant Life Sciences Q2 result: Profit declines 10% to ₹224 crore
1 min read 04 Nov 2020, 05:00 PM ISTTotal revenue from operations stood at ₹2,374.89 crore for the quarter under consideration
PremiumDrug firm Jubilant Life Sciences on Wednesday reported a 10.13% decline in its consolidated net profit to ₹224.12 crore for the quarter ended September, mainly on account of higher taxes.
The company had posted a net profit of ₹249.39 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a BSE filing.
Total revenue from operations stood at ₹2,374.89 crore for the quarter under consideration. It was ₹2,265.93 crore for the same period a year ago, it added.
Tax expense of the company for the quarter was ₹89.55 crore as against ₹42.84 crore for the same period of the previous fiscal, the filing said.
"Q2'FY21 has witnessed a substantial improvement over the previous quarter despite continued adverse impact of the COVID-19 pandemic in at least the first half of Q2," Jubilant Life Sciences Chairman Shyam S Bhartia and Co-Chairman & MD Hari S Bhartia said.
With the strong demand recovery and new business sign-ups, "we expect strong performance in our Pharma, Life Science Ingredients (LSI) and Drug Discovery & Development Solutions (DDDS) businesses in the H2'FY21," they added.
Shares of Jubilant Life Sciences closed at Rs 706.70 per scrip on BSE, up 1.50% over previous close.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
