Jubilant Life Q2 net profit up 14.51% at Rs 145 crore

International revenues were at Rs 984 crore, contributing 69% to the revenues for the quarter, the company said

Drug firm Jubilant Life Sciences on Thursday reported a 14.51% rise in consolidated net profit to Rs 144.77 crore for the quarter ended September 30, 2016 mainly on account of robust pharmaceuticals sales.

The company had posted a net profit after taxes, minority interest and share of profit/loss of associates of Rs 126.42 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.

Consolidated total income from operations, however, dipped to Rs 1,419.34 crore the quarter under consideration as against Rs 1,491.91 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 the business has demonstrated continued strong profitability in an eventful quarter.

"We expect to deliver improved performance in the coming quarters, backed by new product launches in our Generics and Specialty businesses," they added.

Pharmaceuticals revenue was at Rs 769 crore for the quarter under consideration, contributing 54 per cent of the revenues; Life Science Ingredients revenue was at Rs 613 crore contributing 43 per cent to revenues; Drug Discovery Solutions revenue was at Rs 38 crore, contributing 3 per cent to the revenues, the company said.

While the pharmaceuticals revenue grew 8 per cent year-on-year, Life Science Ingredients revenue was down 19 per cent and Drug Discovery Solutions revenue was up 39 per cent y-o-y, it added.

International revenues were at Rs 984 crore, contributing 69 per cent to the revenues for the quarter, the company said.

In another filing to the BSE, Jubilant Life Sciences said its board has decided to obtain an enabling approval from the company's shareholders through postal ballot for issuance of redeemable non-convertible debentures on private placement basis up to an amount of Rs 1,000 crore.

Shares of Jubilant Life Sciences today closed at Rs 649.30 per scrip on BSE, down 2.51 per cent from its previous close.