Jubilant net profit up 31.7 %

CORPORATE SCORECARD

Jubilant Organosys announced an increase of 31.7 per cent in net profit to Rs 47.4 crore for the fourth quarter 2005-06 as compared to Rs 36 crore for the same period in 2004-05. Net sales grew 18.9 per cent to Rs 369 crore as against Rs 311 crore in the year-ago period, a company release said.

The pharmaceuticals and life science chemicals (PLSC) business recorded growth of 27.5 per cent owing to higher crams and active pharmaceutical ingredients sales.

The board of directors has recommended 125 per cent dividend on fully paid-up equity shares of Re 1 each for the year ended March 2006 and the total payout would absorb Rs 20.33 crore.

In order to fund acquisitions, capital expenditure, expansion, modernisation and working capital requirements of the company, the board has approved a proposal to raise $325 million through private placement of equity shares, global depository shares, American depository shares, foreign currency convertible bonds or other securities.

On a consolidated basis, net sales of the company jumped 31.8 per cent to Rs 424 crore in the fourth quarter compared with Rs 322 crore for the same period in 2004-05 with international sales rising by 62.8 per cent to Rs 201 crore.

The company's consolidated net profit for the quarter grew 40.5 per cent at Rs 48.2 crore as against Rs 34.3 crore in the corresponding quarter in 2004-05.