Jubilant Life jumps over 13% in four sessions

Jubilant Life Sciences hit an upper circuit of 5% at Rs 487.55, extending its winning run to fourth consecutive trading session.

The stock has gained 13.11% in four trading days and hit an upper circuit for second day after the company reported decent Q4 numbers. Jubilant Life Sciences' consolidated net profit stood at Rs 260.49 crore in Q4 March 2020 compared with net loss of Rs 100.65 crore in Q4 March 2019. Consolidated net sales slipped 1.9% to Rs 2,307.32 crore in Q4 March 2020 over Q4 March 2019.

Consolidated pre-tax profit stood at Rs 355.95 crore in Q4 March 2020 as against pre-tax loss of Rs 39.98 crore in Q4 March 2019. Current tax expenses jumped 57.3% to Rs 95.46 crore in Q4 March 2020 as compared to Rs 60.67 crore in Q4 March 2019.

EBITDA grew 58% to Rs 556 crore in Q4 FY20 from Q4 FY19. EBITDA margin improved to 23.3% in Q4 FY20 as against 14.7% in Q4 FY19. During the quarter, capital expenditure (Capex) in Q4 FY20 stood at Rs 89 crore. The net debt on a constant currency basis was lower by Rs 297 crore during Q4 FY20.

Jubilant Life Sciences signed a licensing agreement with Gilead Sciences to register, manufacture and sell Gilead's investigational drug, remdesivir, a potential therapy for COVID-19 in 127 countries including India, and is working towards launching the drug in July 2020.

Meanwhile, the board has approved issuance of secured non-convertible debentures (NCDs) upto an amount of Rs 100 crore on private placement basis.

Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and other businesses including drug discovery solutions.

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