Jubilant Life Sciences Sept quarter net profit declines 10% to Rs 224 crore

Drug firm Jubilant Life Sciences on Wednesday reported a 10.13% decline in its consolidated net profit to Rs 224.12 crore for the quarter ended September,mainly on account of higher taxes

Drug firm Jubilant Life Sciences on Wednesday reported a 10.13 per centdecline in its consolidated net profit to Rs 224.12 crore for the quarter ended September,mainly on account of higher taxes.

The company had posted a net profit of Rs 249.39 crore for the correspondingperiod of the previous fiscal, Jubilant Life Sciences said in a BSE filing.

Total revenue from operations stood at Rs 2,374.89 crore for the quarter under consideration. It was Rs 2,265.93 crore for the same period a year ago, it added.

Tax expense of the company for the quarter was Rs 89.55 crore as against Rs 42.84 crore for the same period of the previous fiscal, the filing said.

"Q2'FY21 has witnessed a substantial improvement over the previous quarter despite continued adverse impact of the COVID-19 pandemic in at least the first half of Q2,"Jubilant Life SciencesChairmanShyam S Bhartia andCo-Chairman & MD Hari S Bhartia said.

With the strong demand recovery and new business sign-ups, "we expect strong performance in our Pharma, Life Science Ingredients (LSI) and Drug Discovery & Development Solutions (DDDS) businesses in the H2'FY21," they added.

Shares ofJubilant Life Sciences closed at Rs706.70per scrip on BSE, up 1.50 per cent over previous close.