 "Jubilant Pharmova Q3 result: Profit rises 51% to Rs 101 cr on strong demand")
India's Jubilant Pharmova reported a 51 per cent jump in third-quarter profit on Friday, driven by a strong demand for its drugs with radioactive ingredients, used to treat cancer and other diseases.
Consolidated net profit rose to Rs 101 crore ($11.7 million) in the quarter ended Dec. 31, from Rs 66.8 crore a year ago.
Revenue rose 9 per cent to Rs 1,814 crore, lifted by the radiopharma segment's nearly 12 per cent growth this quarter.
The segment accounted for nearly 46 per cent of the total revenue.
The drugmaker, which manufactures and supplies radiopharmaceuticals used to diagnose and treat cancer and other diseases such as hyperthyroidism and lung diseases, has a network of 52 radio-pharmacies in the United States.
Revenue from its contract manufacturing segment, the firm's second-biggest segment that makes sterile injectables, rose slightly, as did the generics business.
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Jubilant Pharmova's shares jumped as much as 4.5 per cent after the results, but pared gains to last trade 1.5 per cent higher.