Jubilant Life Sciences Q3 net surges 80% to Rs 2.12 bn on robust sales

Drug firm Jubilant Life Sciences on Wednesday reported a 80.20 per cent rise in its consolidated net profit to Rs 2.12 billion for the third quarter ended December 2017 mainly on account of robust sales in Speciality Pharma - Injectables and Life Science Ingredients segments.

The company had posted a net profit of Rs 1.18 billion for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a BSE filing.

Consolidated total revenue from operations also rose to Rs 20.67 billion for the quarter under consideration as against Rs 14.91 billion for the same period a year ago.

"The company has reported highest ever revenue and profitability driven by our Speciality Pharma Injectables business and our Life Science Ingredients segment," Jubilant Life Sciences Chairman Shyam S Bhartia and Co-Chairman and MD Hari S Bhartia said.

The company continues to reduce debt levels through internal cash generation for a strong balance sheet, they added.

Pharmaceuticals revenue stood at Rs 11.01 billion for the quarter contributing 53 per cent to the revenues, up 41 per cent year-on-year. Life Science Ingredients revenue was at Rs 9.22 billion, contributing 45 per cent to the revenues, up 46 per cent year-on-year, Jubilant Life Sciences said.

Drug discovery solutions revenue was at Rs 450 million for the third quarter this fiscal, contributing 2 per cent to the revenues, it added.

International revenues were at Rs 14.82 billion for the quarter under review contributing 72 per cent to the overall revenues, the company said.

In a separate filing, Jubilant Life Sciences said its board has approved the resignation of Pramod Yadav as director and whole-time director of the company consequent to his appointment as CEO designate of Jubilant Pharma Ltd.

The board has also approved the appointment of Rajesh Srivastava as an additional director and whole-time director of the company with immediate effect, it added.

Shares of Jubilant Life Sciences today closed steep 13.64 per cent higher at Rs 921.25 per scrip on BSE.