Jubilant Life Sciences tumbles as net loss widens in Q2

Jubilant Life Sciences slumped 11.37% to Rs 146.10 at 10:35 IST on BSE after the company reported a consolidated net loss of Rs 94.11 crore in Q2 September 2014, higher than net loss of Rs 80.58 crore in Q2 September 2013.

The Q2 result was announced after market hours yesterday, 28 October 2014.

Meanwhile, the S&P BSE Sensex was up 162.55 points or 0.6% at 27,043.37.

On BSE, so far 1.50 lakh shares were traded in the counter as against average daily volume of 24,000 shares in the past two weeks.

The stock hit a high of Rs 153 and a low of Rs 144 so far during the day.

Jubilant Life Sciences' total income fell 3.03% to Rs 1397.52 crore in Q2 September 2014 over Q2 September 2013.

Commenting on the Company's performance, Mr. Shyam S Bhartia, Chairman & Managing Director and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Life Sciences said: "The company's performance in the quarter was affected mainly due to the continued impact of USFDA Warning letter on Spokane facility and adverse price impact on account of new capacities and regulatory changes in China in Advanced Intermediates business. Our Radiopharmaceuticals business has started to show the benefits of our strategic initiatives."

Jubilant Life Sciences is a global pharmaceutical and life sciences company engaged in manufacture and supply of APIs, solid dosage formulations, radiopharmaceuticals, allergy therapy products and life science ingredients. It also provides services in contract manufacturing of sterile injectables and drug discovery and development.

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