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Indian pharmaceutical firm Jubilant Pharmova reported a narrower fourth-quarter loss on Wednesday, aided by strong demand for drugs that contain radioactive ingredients.
The company's consolidated net loss narrowed to Rs 5.86 crore ($7 million) in the January to March period, compared with a loss of Rs 9.79 crore a year ago.
Jubilant Pharmova, involved in the manufacturing and supply of radiopharmaceuticals with a network of 46 radio-pharmacies in the U.S., said it is on track to launch new products in this segment in the medium-term.
Sales rose 5% to Rs 1,746 crore in the fourth quarter, lifted by an 18.6% rise in the key radiopharma business, which involves developing medications used to diagnose or treat diseases such as cancer, and made up nearly half of the sales.
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Revenue from segments that make copycat drugs and medicines used for allergy immunotherapy rose 0.8% and 14%, respectively, during the quarter.
The drugmaking arm of the polymers-to-pizza Jubilant Bhartia group declared a dividend of 5 rupees per share.
Its shares ended 0.4% higher after results and are up 29.5% so far this year.
