Jubilant Life Sciences Q2 up 92% at Rs 152 cr

Jubilant Life Sciences today reported 92% increase in profit after tax for the second quarter ended September at Rs 152 crore, boosted by gains from currency fluctuation.

The company had posted profit after tax of Rs 79 crore in the same period last fiscal, Jubilant Life Sciences said in a statement.

Total income from operations stood at Rs 1,225 crore, up 16% from Rs 1,055 crore in the year-ago quarter.

During the quarter, the company had a net gain of Rs 49 crore as exceptional items mainly benefiting from the currency movement of rupee against dollar.

Commenting on the results, company Chairman & Managing Director Shyam S Bhartia and Co-Chairman & Managing Director, Hari S Bhartia said: "Continued focus on enhancing market shares across business lines, new product launches in both segments and enhanced capacity utilisation would drive achievement of annual guidance given earlier."

The pharmaceuticals segment clocked income from operations of Rs 650 crore, up 17% from the same period last fiscal, and contributed 53% to the revenue mix, the company said.

Income from the life science ingredients vertical stood at Rs 575 crore, up 15% from the corresponding quarter last fiscal and contributed 47% to the overall revenue.

The company said during the period under review, revenue from North America was at Rs 512 crore, up 20% from the same period last fiscal. Revenues from Europe and Japan stood at Rs 240 crore, up 29%.

The domestic revenues stood flat at Rs 337 crore, the company said.

On the outlook, Jubilant Life Sciences said in FY13 it expects to maintain its guidance of achieving over 20% revenue growth.

"The company is confident of achieving this growth on account of new product launches and expansion in new territories by the pharmaceutical products businesses of APIs, generics and speciality pharma followed by higher utilisation of new capacities in life science ingredients and CMO business," it added.

Scrips of Jubilant Life Sciences ended the day at Rs 227.40 per share, up 1.40% from the previous close on the BSE.