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

Jubliant Life Sciences
Jubilant Life Sciences today 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 per cent with 26 per cent EBITDA growth, driven

by pharma segment top line growth of 26 per cent and business EBITDA growth of 46 per cent."

Income from operations of the pharmaceuticals segment during the quarter ending December, 2012, stood at Rs 665 crore, up over 18 per cent Year on Year accounting for a share of 51 per cent 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 per cent YoY with a 49 per cent 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 today trading at Rs 220 per scrip in the afternoon trade on BSE, up 2.14 per cent from its previous close.

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