Left Menu
Development News Edition

Jubilant Life Sciences March quarter loss mounts at Rs 100 crore; stock price crashes

Devdiscourse News Desk | New Delhi | Updated: 17-05-2019 18:33 IST | Created: 17-05-2019 18:16 IST
Jubilant Life Sciences March quarter loss mounts at Rs 100 crore; stock price crashes
Image Credit: Pixabay

Jubilant Life Sciences Friday reported a net loss of Rs 100.65 crore in the fourth quarter ended March 31, 2019, on account of a one-time loan settlement with International Finance Corporation (IFC). The company had posted a consolidated net profit of Rs 152.40 crore in the year-ago period, Jubilant Life Sciences said in a regulatory filing.

Jubilant Life Sciences said its bottom line in the quarter was hit by a one-time loan settlement with IFC, that resulted in an exceptional item of Rs 234.76 crore for the quarter ended March 31. Its consolidated total income during the fourth quarter ended March 31, 2019, stood at Rs 2,379 crore as compared to Rs 2,274.87 crore last year.

Jubilant Life Sciences total expenses were higher at Rs 2,184.22 crore as compared to 2,048.31 crores in the year-ago quarter. "The company witnessed healthy performance during the quarter, which was offset by certain one-time charges," Jubilant Life Sciences Chairman Shyam S Bhartia and Co-Chairman & Managing Director Hari S Bhartia said adding that the company remains focused on generating operating cash and investing it to support the company's growth and reduce debt.

For the financial year 2018-19 ended March 31, the company had a net profit of Rs 577.01 crore as compared to Rs 634.42 crore in the previous fiscal. Total income for the year stood at Rs 9,146.56 crore as against Rs 7,597.84 crore in the previous fiscal.

Going forward, Jubilant Life Science expects stable performance in FY20. "The pharma segment is expected to continue to deliver steady revenues with range bound margins across businesses," it said.



‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...


Latest News

Egypt registers 1,127 new coronavirus cases, 29 deaths

Egypt registered 1,127 new coronavirus cases and 29 deaths, the health ministry said on Thursday, the highest daily increase.That brings the total number of confirmed cases to 20,793, of which 5,359 have recovered, the ministry said in a st...

Senator sees U.S. sticking to trade deal with China despite pandemic concerns

U.S. Senate Finance Committee Chairman Chuck Grassley on Thursday said he did not expect President Donald Trump to walk away from a Phase 1 trade deal with China despite concerns over Beijings handling of the coronavirus pandemic. Grassley,...

Turkey's Erdogan says many facilities to reopen on June 1

Turkey will lift restrictions on intercity travel and allow restaurants, cafes, parks and sports facilities to reopen from June 1 as it eases restrictions imposed to curb the coronavirus outbreak, President Tayyip Erdogan said on Thursday.M...

U.S. may now need to treat Hong Kong like China -White House adviser

U.S. President Donald Trumps top economic adviser said on Thursday that Hong Kong may now need to be treated like China when it comes to trade and other financial matters, given Beijings move to enact a new law Washington warns would underm...

Give Feedback