Jubilant Life Sciences Q1 net down 12% to Rs 143 crore

The firm had posted a net profit of Rs 163.92 crore for the corresponding period of FY17

Drug firm Jubilant Life Sciences today reported a 12.32 per cent dip in its consolidated net profit to Rs 143.71 crore for the quarter ended on June 30, 2017.

The company had posted a net profit of Rs 163.92 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.

Consolidated revenue from operations of the company, however, rose to Rs 1,596.05 crore for the quarter under consideration as against Rs 1,453.92 crore for the same period year ago, it said.

"We have started FY 18 on a steady note, with our pharma segment recording its highest ever revenues during the quarter despite margin contraction in the US generics business", Jubilant Life Sciences Chairman Shyam S Bhartia and Co- Chairman & MD Hari S Bhartia said on the results.

The company continues to focus on operating cash generation to reduce its debt levels and strengthen the balance sheet, they added.

Shares of Jubilant Life Sciences today closed at Rs 703.70 on BSE, down 1.17 per cent from previous close.