Jubilant Life Sciences Q4 net up 2 pc at Rs 152 cr

Jubilant Life Sciences today reported 2.26 per cent rise in consolidated net profit at Rs 152.40 crore for the quarter ended March 31.

The drug firm had posted a net profit of Rs 149.03 crore for January-March quarter of 2016-17, it said in a BSE filing.

Total revenue from operations stood at Rs 2,251.96 crore for the quarter under review. It was Rs 1,641.42 crore for the same period a year ago.

For entire 2017-18 financial year, the company posted a net profit of Rs 634.42 crore as against Rs 574.62 crore in 2016-17.

Total revenue from operations during the year stood at Rs 7,557.81. It was Rs 6,006.32 crore in 2016-17.

"The company has reported a record year in terms of sales and profitability, led by strong performance in Specialty Injectables and Life Science Ingredients businesses," Chairman Shyam S Bhartia and Co-Chairman & MD Hari S Bhartia said in a joint statement.

The company is focussed on driving business growth in Specialty Injectables and better utilisation of assets in all its businesses, they added.

"We see a clear roadmap for growth in our businesses both in revenues and profitability in 2018-19, with second half expected to be better than the first half," Jubilant Life said.

To meet the increased demand in the businesses, the company plans to invest about Rs 550 crore in capital expenditure in 2018-19. In addition, it also plans to invest Rs 300 crore in research and development during the year, it added.

In a separate filing, Jubilant Life said its Board has recommended a dividend of Rs 3 per equity share of Re 1 each for 2017-18.

Shares of Jubilant Life Sciences today closed at Rs 846.75 per scrip on BSE, up 2.24 per cent from the previous close.