Jubilant Organosys Q1 net dips 50% to Rs 63 cr

Pharmaceutical firm Jubilant Organosys today reported 50.14 per cent decline in consolidated net profit at Rs 62.73 crore for the quarter ended June 30, as compared with the same period a year ago.

The company had posted a net profit of Rs 125.82 crore in the first quarter last fiscal.

Net sales during the quarter stood at Rs 981.51 crore as against Rs 896.36 crore in the comparable period last fiscal, up 9.49 per cent, Jubilant Organosys said in a statement.

During the quarter, the company incurred a loss of Rs 20.8 crore, which included a loss of Rs 3.8 crore on mark to market on interest rates swap and amortisation of unrealised loss Rs 17 crore on restatement of foreign currency loans, it added.

Sales from pharma and life sciences products and services division grew by 4.3 per cent to Rs 813 crore during the quarter, while agri and performance polymers segment registered 44.1 per cent increase of sales at Rs 169 crore.