Jubilant Life Sciences has notched up consolidated net profit of Rs.26.69 crore during the third quarter ended December 2012 as against a net loss of Rs.78.39 crore in the corresponding period of last year as provision for exceptional items was lower. Exceptional items regarding amortization of foreign currency monetary items amounted to Rs.22.45 crore, mark to market loss of Rs.49.51 crore and surplus from sale of assets and one time legal expenses of Rs.0.98 crore during the quarter under review. This worked out to exceptional items of Rs.70.88 crore as against Rs.155.49 crore in the last period. Its EBDITA moved up by 24.1 per cent to Rs.263.38 crore from Rs.212.17 crore.

The company's consolidated net sales went up by 19.3 per cent to Rs.1,302 crore from Rs.1,091 crore in the similar period of last year. Its pharmaceuticals sales sales increased by 18.5 per cent to Rs.665 crore from Rs.561 crore and that of Life Sciences Ingredients moved up by 20 per cent to Rs.641 crore from Rs.534 crore.

Strong volume growth in generics and specialty pharma continued to drive performance for the segment. The company has 50 cumulative US ANDA filings of which 25 are approved, 41 dossier filings in the EU of which 33 are approved, 17 filings in Canada of which 4 are approved and 469 in RoW of which 77 are approved. The company has 58 DMF filings in the US, 29 CEPs in Europe, 33 in Canada, 7 in Japan and 90 filings in RoW.

The ingredients segment comprises of proprietary products and exclusive synthesis, nutrition ingredients and life science chemicals achieved net sales growth of 20 per cent to Rs.641 crore with a contribution of 49 per cent to revenues. The segment EBDITA stood at Rs.98 crore, up from Rs.80 crore in the similar quarter of last year. The incremental Pyridine and Beta Picoline capacities have served to consolidate the company's global leadership position in the segment.

The regulated market like US, Europe, Canada and Japan registered a growth of 26 per cent. Its revenue from North American market improved by 26 per cent to Rs.539 crore, contributing over 41 per cent to revenue mix. Revenues from Europe and Japan markets improved by 28 per cent to Rs.266 crore. Similarly, the revenues from Row increased by 19 per cent to Rs.158 core. The company's domestic sales increased by 5 per cent to Rs.344 crore. This worked out to 26 per cent in the revenue mix.

For the nine months ended December 2012, Jubilant's net sales improved by 21.6 per cent to Rs.3,769 crore from Rs.3,099 crore in the similar period of last year. Its net profit went up sharply by 135.2 per cent to Rs.184 crore from Rs.78 crore. Its EBDITA improved by 25.8 per cent to Rs.811 crore from Rs.645 crore. Exceptional items amounted to Rs.132.48 crore as compared to Rs.202.27 crore in the last period.

Pharmaceutical segment accounts for 52 per cent and segment EBDITA was 46 per cent higher at Rs.575 crore. The income of Life Science ingredients segment improved by 17 per cent to Rs.1,813 crore and segment EBDITA reached at Rs.286 crore. Its sales from North America increased by 29 per cent to Rs.1,554 crore and that from Europe & Japan improved by 31 per cent to Rs.757 crore. Its domestic revenues for the first nine months improved by 8 per cent to Rs.1,015 crore.

Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director, said, “During the nine months period, the company delivered a strong revenue growth of 22 per cent with 26 per cent EBDITA growth, driven by pharma segment top line growth of 26 per cent and business EBDITA growth of 46 per cent. Our strategy of enhancing presence in identified international markets is delivering results with 28 per cent growth and high 73 per cent contribution to revenue mix. We believe this momentum is sustainable due to strong product pipeline and order book position along with leveraging benefits from vertical integration.”