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Jubilant Life Sciences posts net loss of Rs 100.65 crore in March quarter

Its consolidated total income during the fourth quarter ended March 31, 2019, stood at Rs 2,379 crore as compared to Rs 2,274.87 crore last year

Press Trust of India  |  New Delhi 

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Friday reported a net loss of Rs 100.65 crore in the fourth quarter ended March 31, 2019 on account of a one time loan settlement with (IFC).

The company had posted a consolidated net profit of Rs 152.40 crore in the year-ago period, said in a regulatory filing.

said its bottomline in the quarter was hit by a one time loan settlement with IFC, that resulted in an exceptional item of Rs 234.76 crore for the quarter ended March 31.

Its consolidated total income during the fourth quarter ended March 31, 2019, stood at Rs 2,379 crore as compared to Rs 2,274.87 crore last year.

Jubilant Life Sciences total expenses was higher at Rs 2,184.22 crore as compared to 2,048.31 crore in the year-ago quarter.

"The company witnessed healthy performance during the quarter, which was offset by certain one-time charges," Jubilant Life Sciences Chairman and Co-Chairman & Managing Director said adding that the company remains focused on generating operating cash and investing it to support the company's growth and reduce debt.

For the financial year 2018-19 ended March 31, the company had a net profit of Rs 577.01 crore as compared to Rs 634.42 crore in the previous fiscal.

Total income for the year stood at Rs 9,146.56 crore as against Rs 7,597.84 crore in the previous fiscal.

Going forward, Jubilant Life Science expects stable performance in FY20.

"The pharma segment is expected to continue to deliver steady revenues with range bound margins across businesses," it said.

First Published: Fri, May 17 2019. 18:16 IST
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