Pharmabiz
 

Jubilant Life Sciences net loss rises to Rs.94 cr in Q2

Our Bureau, MumbaiWednesday, October 29, 2014, 14:20 Hrs  [IST]

Jubilant Life Sciences, a Rs.5,700 crore plus pharma giant, has suffered further setback during the second quarter ended September 2014 on account of US FDA warning letter and adverse price impact in China. Its consolidated net loss increased to Rs.94.11 crore from Rs.80.58 crore in the corresponding period of last year. Its consolidated net sales also declined by 4.4 per cent to Rs.1,362 crore from Rs.1,424 crore as its pharmaceutical sales declined by 11.4 per cent to Rs.614 crore from Rs.693 crore. Its life sciences ingredients sales, however, moved up marginally by 1.7 per cent to Rs.757 crore from Rs.744 crore.

Shyam S Bhartia, chairman & managing director and Hari S Bhartia, co-chairman & managing director, said, “The company's performance in the quarter was affected mainly due to the continued impact of US FDA warning letter on Spokane facility and adverse price impact on account of new capacities and regulatory changes in China in Advanced Intermediates business. Our radiopharmaceuticals business has started to show the benefits of our strategic initiatives.”

Its international revenues declined by 11 per cent to Rs.955 crore from Rs.1,072 crore in the similar quarter of last year. International contributed around 70 per cent to its total net sales. Its sales in US and China declined by 9 per cent and 35 per cent respectively to Rs.513 crore and Rs.72 crore. Its sales in Europe and Japan also declined by 9 per cent to Rs.277 crore from Rs.306 crore. However, its domestic sales increased by 14 per cent to Rs.416 crore from Rs.366 crore, and contributed around 30 per cent to its total net sales. Domestic sales growth driven by life science chemicals.

For the first half ended September 2014, Jubilant's consolidated net sales improved only by 2.9 per cent to Rs.2,623 crore from Rs.2,742 crore in the same period of last year. The company reduced its net loss to Rs.89.33 crore from Rs.133.20 crore. Its pharmaceuticals sales declined by 9.5 per cent to Rs.1,218 crore from Rs.1,346 crore and that of Life Sciences Ingredients sales moved up by 12.1 per cent to Rs.1,626 crore from Rs.1,451 crore.

During the first half its international revenues declined by 3 per cent to Rs.2,006 crore from Rs.2,072 crore due to lower sales in USA & Canada. Regulated markets like US, Canada, Europe and Japan contributed 57 per cent to revenue mix. Its sales in India improved by 17 per cent to Rs.839 crore from Rs.714 crore.

 
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