Jubilant Life Q3 net at Rs 27 cr due to robust sales

Jubilant Life Q3 net at Rs 27 cr due to robust sales New Delhi: Jubilant Life Sciences on Tuesday reported a consolidated net profit of Rs 26.69 crore for the quarter ended December 31, 2012 mainly on account of robust sales, despite exceptional loss of Rs 71 crore.

The company had posted a net loss after taxes, minority interest and share of profit/loss of shareholders of Rs 78.39 crore for the corresponding period of previous fiscal, Jubilant Life Sciences said in a statement.

"Exceptional items for the third quarter of the current fiscal year includes mark to market book loss of Rs 49.51 crore on account of currency movement of US dollar with respect to Rs 910 crore loan swapped into USD loan," it added.

Consolidated net sales of the company rose to Rs 1,301.81 crore for the quarter under consideration from Rs 1,090.51 crore for the same period last fiscal.

Consolidated net profit of the company rose to Rs 183.70 crore for the nine months ended December 31, 2012 from Rs 78.09 crore for the nine months ended December 31, 2011.

Commenting on the results, Jubilant Life Sciences Chairman & Managing Director Shyam S Bhartia said: "During the nine months period, the company delivered a strong revenue growth of 22 percent with 26 percent EBITDA growth, driven by pharma segment top line growth of 26 percent and business EBITDA growth of 46 percent."

Income from operations of the pharmaceuticals segment during the quarter ending December, 2012, stood at Rs 665 crore, up over 18 percent Year on Year accounting for a share of 51 percent in the revenue mix, Jubilant Life Sciences said.

Strong volume growth in generics and speciality pharma continued to drive performance for the segment, it added.

Income from operations in Life Science Ingredients segment during the period stood at Rs 641 crore, showing a growth of 20 percent YoY with a 49 percent contribution to overall revenues, Jubilant Life Sciences said.

The company's products and services are available in 90 countries as part of its strategic geographic expansion in key markets across business lines, it added.

Shares of Jubilant Life Sciences were Tuesday trading at Rs 220 per scrip in the afternoon trade on BSE, up 2.14 percent from its previous close.

PTI