Jubilant Life Sciences Rs 62 cr profit in Q4

Jubilant Life Sciences today reported a consolidated net profit of Rs 61.72 crore for the fourth quarter ended March 31, 2011.

The company had posted a consolidated net profit of Rs 137.16 crore in the same period previous fiscal, Jubilant Life Sciences said in a statement.

For the year ended March 31, 2011, the company posted a consolidated net profit of Rs 229.72 crore, while the same was Rs 421.46 crore in the previous fiscal.

"The results for the current quarter and year ended March 31, 2011 are for the businesses remaining with the company post amalgamation and demerger, hence are not comparable with those of previous period," it added.

The company's net sales for the quarter stood at Rs 890.34 crore, while the same was Rs 991.83 crore in the same period last fiscal.

Commenting on the performance, company CMD Shyam S Bhartia said: "In financial year 2011, the company has recorded a good revenue growth in products business driven by a robust volume growth of 16% across the products."

He further added that the growth in service business was muted due to one-time revenue opportunity in previous year and slowdown in clinical research business.

"In FY12, we expect to deliver a robust sales growth and better margins across all the businesses on account of increased capacity utilisation, commissioning of new plants, innovation led new launches and expansion of market geographies," Jubilant Life Sciences Co-Chairman & Managing Director Hari S Bhartia said.

The company's consolidated net sales for the year ended March 31, 2011 stood at Rs 3,433.4 crore, while the same was Rs 3,791.13 crore in the last fiscal.

As on March 31, 2011, the company's total debt stood at Rs 3,884 crore. Its outstanding foreign currency convertible bonds worth $142 million together with accrued interest of $60 million is due for repayment on May 19, 2011.

"The company expects to use part of its Rs 1,046 crore of cash balance invested in form of liquid funds and bank deposits to meet its obligation on due date," it said.

The company has demerged its agri and performance polymers business into a separate entity, Jubilant Industries.

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

Shares of Jubilant Life Sciences today closed at Rs 159.10 on the BSE, down 5.63% from its previous close.