Jubilant Life Sciences, a Rs.4,254 crore pharma company from Uttar Pradesh, has posted significant growth in sales and EBDITA during the first quarter ended June 2012, but its net profit declined sharply due to exceptional items pertaining to foreign exchange and mark to market provisions. The company's consolidated net sales increased by 31.2 per cent to Rs.1236 crore from Rs.942 crore in the corresponding period of last year. Its earnings before depreciation, interest, tax and exceptional items moved up 45.6 per cent to Rs.276.74 crore from Rs.190.12 crore.

Its revenues from pharmaceuticals segment comprises of APIs, generics, speciality pharma, CMO, DDDS and healthcare, increased by 45.4 per cent to Rs.641 crore from Rs.441 crore and that of life sciences ingredients improved by 17.7 per cent to Rs.600 crore from Rs.510 crore. Pharmaceutical segment contributed 52 per cent to the revenue mix. Revenue in the pharma segment was driven by growth in generics in US and India, and speciality pharma. Revenue growth in the radiopharmaceuticals was driven by entry into emerging market with sestamibi while allergy business revenue was healthy on account of expansion into ENT market segment.

The sales of ingredients segment comprises of proprietary products and exclusive synthesis, nutrition ingredients and life science chemicals improved by 18 per cent to Rs.599 crore and contributed 48 per cent to the overall sales.

Shyam S Bhartia, chairman & managing director and Hari S Bhartia, co-chairman and managing director, said, “We are happy to report strong revenue growth of 31 per cent for the quarter along with operating profit growth of 46 per cent. Our strategy of geographic expansion is yielding fruits in terms of 37 per cent growth in international revenues, which now account for 73 per cent of revenue mix. The exceptional performance has been driven by focus to continuously move up the value chain and launch new products through innovative processes. We are confident to demonstrate robust revenue and profit growth with stable EBDITA margins in times to come.”

The regulated market like US, Canada, Europe and Japan, remained the focus on growth with revenues in these markets growing at 41 per cent. Revenue from North America was at Rs.502 crore contributing 40 per cent to the revenue mix and showing growth of 43 per cent. Its revenue from Europe and Japan touched to Rs.252 crore with strong growth of 38 per cent. Its domestic sales moved by 15 per cent to Rs.335 crore and that from ROW increased by 22 per cent to Rs.151 crore.

The company's exceptional loss increased sharply to Rs.104.24 crore from Rs.4.18 crore in the corresponding period of last year. Mark to Market loss amounted to Rs.87.46 crore and amortization of foreign currency monetary loss worked out to Rs.16.78 crore. Thus the total exceptional loss put pressure on net profit which declined to Rs.5.01 crore from Rs.771.12 crore in the similar period of last year, a sharp fall of almost 94 per cent.

The company expects to maintain its guidance of achieving 20-22 per cent revenue growth with EBDITA margins sustainable at about 21 per cent with strong product pipeline. It has 48 cumulative US ANDA filings, of which 20 are approved, 36 dossier filings in the EU of which 33 are approved, 12 filings in Canada and 297 in ROW of which 49 are approved. It also has 58 DMF filings in the US, 28 CEPs in Europe, 31 in Canada and 6 in addition to 76 filings in ROW.