Jubilant Life Q3 net loss at Rs 78 cr

Jubilant Life Sciences today said it has posted consolidated net loss of Rs 78.39 crore for the quarter ended December 31, mainly due to forex losses.

The company had posted consolidated net profit of Rs 44.11 crore for the same quarter last fiscal, Jubilant said in a statement.

Its consolidated net sales stood at Rs 1,087.17 crore for the October-December quarter, 2011-12, as against Rs 866.47 crore in year-ago period.

"Unrealised mark to market book loss mainly on account of currency movement of US dollar, from base of Rs 45 to Rs 53.10, with respect to rupee loan swapped into US dollar loan at the time of FCCB repayment, amounting to Rs 143 crore," was one of the exceptional items resulting in the loss, Jubilant said.

"Unrealised exchange loss of Rs 12 crore on long term foreign currency loans amortised over the tenure of the loan," was the other exceptional item, it added.

Revenue from life science products stood at Rs 867 crore contributing 80% to sales for the quarter under consideration, the company said.

Life science services revenue for the third quarter this fiscal stood at Rs 220 crore, CMO contributed Rs 157 crore to the revenues, while drug discovery and development solutions added Rs 59 crore.

During the quarter, the company commissioned new capacity at SEZ Gujarat for Niacinamide and its intermediate, 3CyanoPyridine, the company said.

Shares of Jubilant Life Sciences today closed at Rs 177.50 on the BSE, up 1.40% from the previous close.