Jubilant Life Sciences Q2 net profit at Rs 116 crore

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Published: October 29, 2015 10:50:04 PM

Drug firm Jubilant Life Sciences today reported a consolidated net profit of Rs 115.82 crore for the second quarter ended September 30, 2015 mainly on account of robust sales.

Drug firm Jubilant Life Sciences today reported a consolidated net profit of Rs 115.82 crore for the second quarter ended September 30, 2015 mainly on account of robust sales.

The company had posted a net loss after taxes, minority interest and share of profit/loss of associates of Rs 94.11 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a statement.

Consolidated total income from operations of the company also rose to Rs 1,463.05 crore for the quarter under consideration as against Rs 1,371.10 crore for the same period a year ago.

Commenting on the results, Jubilant Life Sciences Chairman Shyam S Bhartia and Co-Chairman & MD Hari S Bhartia said: “Our performance in this quarter is a continuation of the good growth momentum of the last two quarters, with better earnings across both segments.”

In a separate filing to the bourses, the company said its board has accorded approval for raising funds through issue of equity/GDRs/ADRs/FCCBs or other equity related instruments up to an amount of USD 200 million (around Rs 1,300 crore).

The company’s pharmaceuticals segment witnessed sustained improvement due to increase in revenues across all geographies led by growth in North America. Margins in our Life Science ingredients business were better, led by specialty intermediates and nutritional products, they added.

During the quarter international revenues stood at Rs 1,054 crore, contributing 72 per cent to the overall mix, Jubilant Life Sciences said.

The company during the quarter “signed term sheet with Cyclopharm for an exclusive license to market and distribute Technegas (imaging agent used in pulmonary embolism) in the United States,” it added.

In FY 2016, the growth is expected to be driven by pharmaceuticals segment primarily led by growth in North America in the specialty pharmaceuticals business, Jubilant Life Sciences said.

The Life Science ingredients segment is expected to deliver better margins compared to FY 2015 led by improved operational efficiency and growth in specialty intermediates and nutritional products, it added.

Shares of Jubilant Life Sciences today closed at Rs 401.60 per scrip on BSE, down 1.52 per cent from it’s previous close.

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