Jubilant Life Sciences reports record performance in 3rd quarter of FY 2018

New Delhi: The Board of Jubilant Life Sciences Limited, an integrated global pharmaceutical and life sciences company met on 17th January to approve financial results for the quarter and nine months ended December 31, 2017.

The company has reported an 80.20 percent increase in its consolidated net profit to Rs 212.84 crore for the third quarter ended December 2017 mainly on account of robust sales in Speciality Pharma—Injectables and Life Science Ingredients segments.

The company had posted a net profit of Rs 118.11 crore for the corresponding period of the previous fiscal. Consolidated total revenue from operations also rose to Rs 2,067.76 crore for the quarter under consideration as against Rs 1,491.64 crore for the same period a year ago.

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 record growth in both revenues and profits. The company has reported highest ever revenue and profitability driven by our Specialty Pharma – Injectables business and our Life Science Ingredients segment. We continue to reduce debt levels through internal cash generation for a strong balance sheet. Our strategic initiatives across the businesses are delivering outstanding results and we are hopeful of continuing this robust growth, going forward.”

Pharmaceuticals revenue stood at Rs1,101 crore for the quarter contributing 53% to the revenues, up 41% year-on-year. Life Science Ingredients revenue was at Rs 922 crore, contributing 45% to the revenues, up 46% year-on-year, mentioned Jubilant Life Sciences statement. Drug discovery solutions revenue was at Rs45 crore for the third quarter this fiscal, contributing 2% to the revenues, it added.

International revenues were at Rs1,482 crore for the quarter under review contributing 72% to the overall revenues, the company said. In a separate filing, Jubilant Life Sciences said its board has approved the resignation of Pramod Yadav as director and whole-time director of the company consequent to his appointment as CEO designate of Jubilant Pharma Ltd.

The board has also approved the appointment of Rajesh Srivastava as an additional director and whole-time director of the company with immediate effect, it added. Shares of Jubilant Life Sciences on Wednesday closed steep 13.64% higher at Rs 921.25 per scrip on BSE.