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Jubilant Life posts Rs 63 cr Q4 net loss

May 07 2012, 21:06 IST
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Jubilant Life Sciences today reported a consolidated net loss of Rs 63.53 crore. Jubilant Life Sciences today reported a consolidated net loss of Rs 63.53 crore.
SummaryJubilant reported a net loss primarily due its clinical research business not doing well.

Jubilant Life Sciences today reported a consolidated net loss of Rs 63.53 crore for the fourth quarter ended March 31, primarily due its clinical research business not doing well in the United States.

The company had posted a net profit of Rs 61.72 crore for the quarter ended March 31, 2011.

The consolidated total income of the company stood at Rs 1,200.41 crore for the quarter against Rs 899.85 crore in the same period previous fiscal, Jubilant Life Sciences said in a statement.

The company's board of directors has also recommended a dividend of Rs 3 per equity shares of Re 1 amounting to Rs 55.54 crore, it said.

"Our strategy of continuously moving up the value chain into pharmaceutical and life sciences with expanded geographic reach and ongoing investments in R&D for new product launches has yielded excellent results," Jubilant Life Sciences Chairman and MD Shyam S Bhartia said.

Consequently, the Board has proposed 300 per cent dividend for the year, he added.

The company today said it has earmarked Rs 350 crore for capital expenditure in 2012-13 fiscal.

"Rs 250 crore is the spillover capex from FY12 and the rest Rs 100 crore is the normal capex for 2012-13, taking the total amount to Rs 350 crore for the fiscal," Jubilant Life Sciences Executive Director Finance R Sankaraiah said in a conference call.

The Noida-headquartered firm said it expects around 20-22 per cent growth in sales in FY13. It also plans to launch more 2-3 products in the US market in FY13, he added.

The company recorded consolidated total income of Rs 4,303.13 crore for the year ended March, 2012 against Rs 3,445.62 crore for 2010-11, the company said.

Consolidated net profit for the year ended March 31, 2012, stood at Rs 14.56 crore against Rs 229.72 crore for the previous fiscal, it added.

The company has 48 cumulative US abbreviated new drug application (ANDA) filings of which 19 are approved, 35 dossier filings in European Union of which 31 are approved, 9 filings in Canada and 264 in ROW of which 38 are approved, it added.

Shares of Jubilant Life Sciences closed at Rs 178.20 on BSE today, down 0.53 per cent from its previous close.

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