Jubilant Life net jumps over 26 times to Rs 128.06 crore

Jubilant Life Sciences' consolidated net profit jumped by over 26 times to Rs 128.06 crore for the first quarter ended June 30, helped by lower expenses.
The company had posted a net profit of Rs 4.78 crore during the same period of the previous fiscal.
Net sales of the company declined marginally by 1.51 per cent to Rs 1,438.38 crore as compared to Rs 1,460.53 crore in the same period of the previous fiscal, Jubilant Life Sciences said in a filing to the BSE.
Commenting on the results, Jubilant Life Sciences Chairman and Managing Director Shyam S Bhartia said: "First quarter results are a reflection of initiatives undertaken over the last few quarters... With some of the business related concerns now behind us, we believe that our performance is back on track and expect to continue the momentum going forward."

Overall expenses of the company stood at Rs 1,199.34 crore, down 14.37 per cent, as against overall expenses of Rs 1,400.67 crore in the same quarter, a year ago.
Shares of Jubilant Life Sciences today closed 15.54 per cent higher at Rs 326.40 apiece on BSE.