Jubilant Life Sciences zooms 15% on strong Q3 results

The stock hit a record high of Rs 931, up 15% on BSE after the pharmaceutical company reported a strong 78% year on year jump in consolidated net profit at Rs 2.13 billion in Q3FY18.

Jubilant Life Sciences hit a record high of Rs 931, up 15% on BSE in intra-day trade, after the pharmaceutical company reported a strong 78% year on year(y-o-y) jump in consolidated net profit at Rs 2.13 billion for December 2017 quarter (Q3FY18). The company had profit of Rs 1.18 billion in the same quarter last fiscal.

Consolidated revenue grew 42% at Rs 20.68 billion against Rs 14.91 billion in the corresponding quarter of previous year.

The company has reported highest ever revenue and profitability driven by specialty pharma – injectables business and life science ingredients segment.

Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved to 20.8% from 20.2% in Q2FY18.

“We continue to reduce debt levels through internal cash generation for a strong balance sheet. Our strategic initiatives across the businesses are delivering outstanding results and we are hopeful of continuing this robust growth, going forward,” said Shyam S Bhartia, chairman and Hari S Bhartia, co-chairman & managing director, Jubilant Life Sciences.

At 03:07 pm; the stock was trading 13% higher at Rs 917 on BSE, as compared to 0.86% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than five-fold with a combined 4.6 million shares changed hands on BSE and NSE so far.