Jubilant Pharmova Limited on Wednesday posted its fiscal first quarter profit at Rs 6.40 crore, down 86.4 per cent as against Rs 47.10 crore during the same period last year. It posted revenue from operations at Rs 1586.90 crore, up 9.3 per cent as against Rs 1451.70 crore. The company’s EBITDA stood at Rs 169.6 crore, down 11.9 per cent versus Rs 192.5 crore in the corresponding quarter last year.
Jubilant Pharmova posted total income for the quarter at Rs 1595.50 crore , up 9.1 per cent in comparison to Rs 1463 crore during Q1FY23. However, the total expenses of the company during the period in review was at Rs 1568.90 crore, up 12.6 per cent as against Rs 1393.80 crore last year.
Jubilant Pharmova’s Q1FY24 performance across business verticals
Jubilant Pharmova’s radiopharma vertical posted a revenue of Rs 690.70 crore for the first quarter of FY23. The company’s key priorities for this segment is to maintain a leadership position in a stable high margin core portfolio in North America. It is looking at continuing the launch of high-growth innovation products. The company has already launched Technetium Mertiatide Injection in Q1FY24 and another launch is planned in FY24 (subject to regulatory approvals).
For its allergy immunotherapy segment, Jubilant Pharmova posted Q1FY24 revenue at Rs 151.40 crore and it contributes to 10 per cent of the total revenue of the company. The company is working towards gaining market share in the US, Europe and other non-US markets across the Venom product category. While it has presence in the US market, Jubilant is looking at further strengthening the prescriber base for Venom immunotherapy in the US through continuous brand buiding.
Jubilant Pharmova posted revenue of Rs 295.50 crore for its CDMO Sterile Injectables segment. “The focus is on-time and at-cost execution of $370 million capacity expansion in Spokane and Montreal, to double the CMO capacity over next 5+ years in a phased manner,” the company said while adding that it is working towards leveraging differentiated technical know-how to further build scale.
The Generics segment at Jubilant Pharmova posted a revenue of Rs 202.30 crore during the fiscal first quarter. The company is re-prioritising geography-mix to accelerate growth in branded markets such as India and select international markets and is working on strengthening leadership position in select products across markets.
The Contract Research, Development and Manufacturing Organisation (CRDMO) segment, meanwhile, posted revenue at Rs 296.40 crore, down 7.8 per cent from Rs 321.50 crore a year ago.