Jubilant Life Sciences Posts 22% Rise In Q1 Profit

New Delhi: Jubilant Life Sciences on Tuesday posted a 22.48 per cent rise in consolidated net profit at Rs 161.60 crore for the first quarter that ended on June 30, on robust sales in the pharmaceuticals segment.

The company had posted a net profit of Rs 131.93 crore for the corresponding period of the previous fiscal year.

Net sales of the company also rose to Rs 1,425.53 crore during the first quarter as against Rs 1,400.97 crore in the corresponding period of the previous financial year, it said in a statement.

"We have started the FY17 on a positive note delivering strong performance in pharmaceuticals segment which contributed about 70 per cent of the company's operating profit," Jubilant Life Sciences chairman Shyam S Bhartia said.

The company has built a robust long-term sustainable business model with the growth engine of pharmaceuticals and drug discovery solutions segments, he added.

"By creating focused management teams for all the three segments of businesses,we are able to clearly define strategic initiatives with the right mix of capital allocation. We believe that the firm will continue to deliver better performance going forward given the robust product pipeline in place," co-chairman and MD Hari S Bhartia said.

Giving an update on its product pipeline, the company said it has a total of 850 filings across geographies including 770 filings in oral solids and 80 filings in sterile products.

Of this, 649 filings have been approved while 201 filings are pending approval, it added.

"Further, we are working on six other products for the US market, and we plan to file at least one product in FY 17 and balance in coming years. These are expected to be very niche and differentiated products," the firm said.

Shares in the company, on Tuesday, ended 3.61 per cent higher at Rs 341.90 apiece on the BSE, whose benchmark Sensex index finished down 0.35 per cent.