Tuesday, August 5, 2014

Rs 5 crore net profit for #Jubilant Life Sciences in Q1

Rs 5 crore net profit for #Jubilant Life Sciences in Q1
Jubilant Life Sciences today posted a consolidated net profit of Rs 4.78 crore for the first quarter ended June 30.The company had posted a net loss of Rs 52.62 crore during the same period of previous fiscal.

Q1 FY2015 Highlights

  • Consolidated revenue at Rs. 1,473 Crore, grew 8% YoY
  • International revenues at Rs. 1,051crore, contributed 71% to the overall mix
  • EBITDA margins at 10.2% and Reported PAT at 5 Crore

The company said it has completed the consolidation of its entire pharmaceutical business under Jubilant Pharma, Singapore with effect from July 1, 2014."This has been financed by a USD 147.5 million funding from IFC, which includes USD 87.5 million long term loan, USD 60 million of zero coupon optionally convertible loan and a further loan of USD 52.5 million to be syndicated by IFC," it added.
Commenting on the results, Mr. Shyam S Bhartia, Chairman & Managing Director and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Life Sciences said,“Performance of the quarter was affected due to extended plant shut-down in CMO business to address USFDA issues. These operations have now normalized and, along with new product introductions and strategic initiatives, should deliver strong performance in our Pharmaceutical operations. In Life Science Ingredients, we witnessed growth across all businesses aided by price and volume gains. We are confident that we have laid the foundation for a strong performance in the remaining quarters of the year.”
Net sales of the company, however, rose to Rs 1,460.53 crore during the period, as compared to Rs 1,318.04 crore in the same period of previous fiscal.