Jubilant Life Sciences reports 26 pct jump in net profit during Q3; stock rises 1 pct

Jubilant Life Sciences Friday reported a 25.69 per cent rise in its consolidated net profit at Rs 267.52 crore for the quarter ended December 31, 2018, mainly on account of robust sales in the pharmaceuticals segment. The company had posted a net profit of Rs 212.84 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.

The consolidated total revenue from operations of the company stood at Rs 2,377.10 crore for the quarter under consideration as against Rs 2,067.76 crore for the same period a year ago. "The continued record performance in revenues and profits is driven by robust results in all key businesses in the pharmaceuticals segment, especially in our CDMO and US generic businesses," Jubilant Life Sciences Chairman Shyam S Bhartia and Co-Chairman and MD Hari S Bhartia said.

The company expects to continue healthy performance going forward in the pharmaceuticals segment and steady performance in life science ingredients segment; and generate adequate cash to invest to support growth and reduce the debt for a strong balance sheet, they added. Pharmaceuticals revenue stood at Rs 1,418 crore, up 29 per cent year-on-year, contributing 60 per cent to the company's revenues, Jubilant Life Sciences said. Shares of Jubilant Life Sciences closed at Rs 711.55 per scrip on BSE, up 1.17 per cent from its previous close.