Jubilant Life Sciences, a Rs. 5,700 crore plus pharma major from Uttar Pradesh, has incurred consolidated net loss of Rs. 11.16 crore during the third quarter ended December 2014 as against a net profit of Rs. 143.43 crore in the corresponding period of last year. Its net sales remained almost stagnant at Rs. 1,430 crore. EPS worked out negative Rs. 0.70 as compared to positive Rs. 9 in the last period.
Pharmaceutical sales increased by 14 per cent to Rs. 701 crore from Rs. 677 crore and that of life science ingredients declined marginally by 2 per cent to Rs. 744 crore from Rs. 767 crore. Pharma sales contributed 48 per cent to its total net sales and life science ingredients 52 per cent. The growth in pharma sales was driven by radiopharmaceuticals. The US FDA warning letter and pricing pressure in advanced intermediates put pressure on sales of life science ingredients.
During the December quarter, Jubilant Life acquired Cadista Holding Inc (CHI) through its subsidiary Jubilant Generics Inc for US$ 1.60 per share. The company completed 4 API filings during the quarter – one in Japan and 3 in ROW. It launched Aripiprazole in US. In solid dosage formulations segments, it launch solmitriptan ODT, irbesartan, amlodipine in Canada and many others in emerging market like APAC and ME and Africa etc. It received 8 approvals across regions including 4 in USA.
Shyam Bhartia, chairman & managing director and Hari Bhartia, co-chairman and managing director, said, “We are happy to report that our overall business performance is showing signs of recovery, post the challenges of last six months. Some of the key businesses witnessed healthy profitable growth from the preceding quarter, led by growth in our radiopharmaceutical business and resumption of operations in CMO business. Our management consolidation of pharmaceuticals and Life Science Ingredients segments is complete with the appointment of separate CEOs to focus on growth in the respective segments. The acquisition of the minorities stake in Jubilant Cadista will help us in consolidating the US generic business.”
For the nine months period ended December 2014, Jubilant Life's consolidated net sales improved only by 2 per cent to Rs. 4,253 crore from Rs. 4,170 crore in the similar period of last year. However, its net loss touched to Rs. 100 crore as against a net profit of Rs. 10 crore in the last period.
Its pharmaceutical sales declined by 5.1 per cent to Rs. 1,920 crore from Rs. 2,023 crore and that of Life Sciences ingredients improved by 6.9 per cent to Rs. 2,374 crore from Rs. 2,221 crore. Pharma sales contributed 45 per cent to revenue mix. Its domestic sales increased by 16 per cent to Rs. 1,248 crore from Rs. 1,074 crore and its international sales declined by 4 per cent to Rs. 3,042 crore from Rs. 3,167 crore. Its US sales declined by 5 per cent to Rs. 1,570 crore from Rs. 1,650 crore and that of China went down by 19 per cent to Rs. 281 crore from Rs. 347 crore. Its sales in Europe and Japan declined by one per cent to Rs. 891 crore from Rs. 904 crore.