Jubilant Life Sciences registers net profit of Rs 125 crore in Q2

New Delhi: The Board of Jubilant Life Sciences Limited, an integrated global pharmaceutical and life sciences company on 28th October approved financial results for the quarter and half year ended September 30, 2017.

The company’s consolidated net profit stood at Rs 125.47 crore for the second quarter.The company had posted Rs 143.56 crore net profit after tax for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a press release.

Consolidated total income from operations stood at Rs 1649.13 crore in the quarter under review. Pharmaceuticals revenue was at Rs 860 crore, contributing 52 percent to the revenues. Life Science ingredients revenue was at Rs 738 crore, representing 45 per of the revenues, the company said.

International revenues were at Rs 1,181 crore, constituting 72 percent of the revenue for the quarter, it added.

The company also said that sales/incomes from operations for the current period is not comparable with previous periods, due to Goods and Services Tax (GST) implementation.

Commenting on the Company’s performance, Mr Shyam S Bhartia, Chairman and Mr Hari S Bhartia, Co-Chairman and Managing Director, Jubilant Life Sciences said: “We are happy to report another quarter of strong performance in our Specialty Pharmaceuticals – Injectables and our Life Science Ingredients businesses. The acquisition of Triad’s radiopharmacy business has been successfully completed, which will add to our niche Specialty Injectables portfolio. The Life Science Ingredients segment has delivered strong performance on higher demand and healthy price environment. The implementation of the new GST regime was smoothly implemented across the Company. We are confident of delivering significantly higher performance in H2’FY18 across all the businesses. We continue to focus on cash generation to aid debt reduction and further strengthen the balance sheet.”

Jubilant Pharma Limited (JPL), a material wholly owned subsidiary of the Company, through one of its wholly owned subsidiaries, successfully completed the acquisition of the US radiopharmacy business of Triad Isotopes, Inc. on September 1, 2017. Accordingly, the Q2/H1’FY18 revenues include Rs 103 Crore pertaining to one-month revenue of the acquired entity.