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Jubilant Life Sciences net zooms by 53% to Rs.77 cr in Q1

Our Bureau, MumbaiTuesday, August 9, 2011, 15:20 Hrs  [IST]

Jubilant Life Sciences, a Rs.3,400 crore plus largest custom research and manufacturing services company, has posted impressive performance during the first quarter ended June 2011 and its consolidated net profit has taken quantum jump of 52.9 per cent to Rs.77.12 crore from Rs.50.43 crore in the corresponding period of last year. The EBDITA also moved up by 32 per cent to Rs.189.88 crore from Rs.93.08 crore.
The company's net sales moved up by 15.5 per cent to Rs.944.29 crore from Rs.817.62 crore. The international business from 75 countries contributed 69 per cent to net sales and reached at Rs.653 crore. Sales from regulated markets of USA, Canada, Europe and Japan were at Rs.522 crore and amounted to 55 per cent of the net sales. Sales from Europe and Japan regions increased by 50 per cent and followed by 16 growth in emerging markets. Its revenues in US and Canada grew by 9 per cent.
Revenues for life science products increased by 19 per cent to Rs.739 crore from Rs.621 crore and contributed 78 per cent to sales. The share in revenue of life sciences ingredients was 64 per cent at Rs.608 crore with a growth of 16 per cent. The sales of generic products increased by 33 per cent to Rs.131 crore and contributed 14 per cent to sales. Its life science services revenue was at Rs.205 crore CMO contributed 16 per cent to the revenue mix at Rs.151 crore and drug discovery and development solutions reported Rs.52 crore in net sales, contributing over 5 per cent to the revenue mix for the quarter under review.
The results for the corresponding quarter of previous year are for the business remaining with the company, post amalgamation/demerger, and has been restated to give effect to the scheme. Equity shares issued consequent upon scheme and adjustment to FCCB conversion price on demerger has also been considered for re-computation of EPS for the corresponding quarter of previous year. Th earning per share worked out to Rs.4.84 for the quarter ended June 2011 as compared to Rs.3.17 in the last period.
Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director, said, “We are happy to share that, the company has delivered strong revenue and earnings growth both sequentially and year on year basis in the first quarter of FY2012. Our products business teams have performed well with a clear objective of aggressive sales growth; innovation led product launches, expansion in high growth geographies and increased vertical integration. Service business teams have taken focused margin improvement initiatives to substantially increase the profitability.”
The added, “We expect to continue our growth momentum with the commissioning of new capacities; innovation led product launches, expansion in high growth geographies and increased capacity utilization in services business. We are confident of continued delivery of robust growth in sales and substantial growth in operating profit in the following quarters.”
The company filed 3 ANDAs in the US and received approval for one ANDA as well as one dossier. Its Roorkee plant received Japanese PMDA certification during the quarter.

 
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