Jubilant Life Sciences Q3 net at Rs 44 cr

Jubilant Life Sciences today posted a consolidated net profit after minority interest of Rs 44.1 crore for the third quarter ended December 31, 2010, riding on the back of strong performance in generics business.

The company had posted a net profit of Rs 100.8 crore in the same period previous fiscal, Jubilant Life Sciences said in a statement.

The company's total income stood at Rs 870.6 crore for the third quarter ended December 31, 2010, while the same was Rs 964.1 crore in the same period last fiscal.

The results for the current quarter and nine months ended December 31, 2010 are for the businesses remaining with the company, post demerger/amalgamation, after giving effect to the scheme and accordingly, are not comparable with the previous quarter/period.

"The company witnessed high volume and capacity utilisation in products segment during the quarter and year-to-date across all products," Jubilant Life Sciences Chairman and Managing Director Shyam S Bhartia said.

He further added: "There has been good growth in generics and active pharmaceutical ingredients (APIs) due to new product launches and market share gains."

In order to create a focused life science entity, the company has demerged its agri and performance polymers business into a separate entity, Jubilant Industries.

Shares of both Jubilant Life Sciences and Jubilant Industries are now listed on the Bombay Stock Exchange and National Stock Exchange.

For the nine months ended December 31, 2010, the company posted a net profit (after minority interest) of Rs 168 crore, while the same was Rs 284.30 crore in the same period last fiscal.

Shares of Jubilant Life Sciences were trading at Rs 202.75 today on the BSE in the late afternoon trade, down 0.27% from its previous close.