Jubilant Life Sciences Posts Nearly 15% Rise In Q2 Profit

New Delhi: Drug firm Jubilant Life Sciences on Thursday reported a 14.51 per cent rise in consolidated net profit at Rs 144.77 crore for the quarter ended September 30, 2016, mainly on account of robust pharmaceuticals sales.

The company had posted a net profit after taxes, minority interest and share of profit/loss of associates of Rs 126.42 crore for the corresponding period of the previous fiscal year, it said in a filing to the BSE.

Consolidated total income from operations, however, dipped to Rs 1,419.34 crore in the quarter under consideration, as against Rs 1,491.91 crore in the year-ago period.

Commenting on the results, Jubilant Life Sciences chairman Shyam S Bhartia, and co-chairman and MD Hari S Bhartia, said the business has demonstrated continued strong profitability in an eventful quarter.

"We expect to deliver improved performance in the coming quarters, backed by new product launches in our Generics and Specialty businesses," they added.

Pharmaceuticals revenue was at Rs 769 crore for the quarter under consideration, contributing 54 per cent of the revenues; Life Science Ingredients revenue was at Rs 613 crore contributing 43 per cent to revenues, and Drug Discovery Solutions revenue was at Rs 38 crore, contributing 3 per cent to the revenues, Jubilant Life Sciences said.

While the pharmaceuticals revenue grew eight per cent year-on-year, Life Science Ingredients revenue was down 19 per cent and Drug Discovery Solutions revenue was up 39 per cent year-on-year, it added.

International revenues were at Rs 984 crore, contributing 69 per cent to the revenues for the quarter, the company said. 

In another filing to the BSE, Jubilant Life Sciences said its board has decided to obtain an enabling approval from the company's shareholders through postal ballot for issuance of redeemable non-convertible debentures on private placement basis up to an amount of Rs 1,000 crore.

Shares in Jubilant Life Sciences closed 2.51 per cent lower at Rs 649.30 apiece on the BSE, whose benchmark Sensex index finished up 0.29 per cent.