Jubilant Life Sciences has posted consolidated net profit of Rs.99 crore during the fourth quarter ended March 2014 as against a net loss of Rs.31 crore in the similar period of last year. Its consolidated net sales increased by 12.5 per cent to Rs.1,552 crore from Rs.1,380 crore. Earnings per share worked out to Rs.6.20 as compared to negative Rs.1.94 in the last period.
Commenting on the company’s performance, Shyam S Bhartia, chairman & managing director and Hari S Bhartia, co-chairman & managing director, Jubilant Life Sciences said “We have implemented the management consolidation of pharmaceutical and life science ingredients businesses to enable faster and focussed growth going forward. In pharmaceutical business we have strengthened our quality system for better compliance. We are happy to report that warning letter issue in Montreal have been resolved and in Spokane, we have responded to all FDA observations. We are confident of bringing back our growth in CMO of sterile injectibles business on the back of strong order book and better compliance. Our financial arrangement with IFC enable us to de-couple our pharmaceutical business from life science ingredient and enhance shareholder value.”
For the full year ended March 2014, Jubilant’s consolidated net sales increased by 11.9 per cent to Rs.5,722 crore from Rs.5,113 crore in the previous year. However, its net profit declined by 28.8 per cent to Rs.109 crore from Rs.153 crore due to significant higher interest burden and exceptional items. With lower profits, its EPS declined to Rs.6.85 from Rs.9.59.
International revenues contributed 75 per cent to the revenue mix at Rs.4,327 crore with a share of 60 per cent from regulated markets in FY2014. Revenue from North America stood at Rs.. 2,231 crore, up 5 per cent and contributing a share of 38 per cent to the revenue mix. Revenue from Europe and Japan was at Rs.1,224 crore, with a contribution of 21 per cent to the revenue mix and growing 15 per cent YoY.
The domestic revenue was at Rs.1,477 crore, up by 11 per cent YoY, with a share of 25 per cent to the revenue mix. Revenue from ROW including China stood at Rs.871 crore, growing 37 per cent and contributing 15 per cent to the revenue mix.
As against the equity capital of Rs.15.93 crore, its reserves & surplus amounted to Rs.2,611 crore during 2013-14.