Jubilant Life Sciences has announced strong bottom line growth during the second quarter ended September 2015. It achieved consolidated net profit of Rs.116 crore as against a net loss of Rs.94 crore in the corresponding period of last year. Its EBIDTA improved 137 per cent to Rs.325 crore from Rs.137 crore. Its consolidated net sales improved by 6.1 per cent to Rs.1,445 crore from Rs.1,362 crore. It reported positive EPS of Rs.7.27 as compared to negative Rs.5.91 in the last period.
The board has approved for raising funds through issue of equity/GDRs/ADRs/FCCBs or other equity related instruments upto an amount of USD 200 million (Rs.1300 crore (approx.)), subject to approval of the shareholders of the company and other necessary approvals.
Its pharmaceutical sales for the quarter under review increased by 21.7 per cent to Rs.747 crore from Rs.614 crore. Pharmaceutical revenue contributed 51 per cent to the overall mix. However, its sales of life sciences ingredients declined by 5.4 per cent to Rs.718 crore from Rs.759 crore.
Its international revenue touched to Rs.1,054 crore and contributed 72 per cent of gross turnover. Its sales in North America were at Rs.573 crore, up by 26 per cent, and those from Europe and Japan were at Rs.93 crore, up by 14 per cent. Its Indian business stood at Rs.34 crore, up by 9 per cent. The company signed term sheet with Cyclopharm for an exclusive license to market and distribute Technegas (imaging agent used in Pulmonary Embolism) in the US.
Shyam Bhartia, chairman and Hari Bhartia, co-chairman and managing director, said, “Our performance in this quarter is a continuation of the good growth momentum of the last two quarters, with better earnings across both segments. Our pharmaceuticals segment witnessed sustained improvement due to increase in revenues across all geographies led by growth in North America. Margins in our life science ingredients business were better, led by specialty intermediates and nutritional products. Our performance is back on track and we expect to sustain the momentum during this year.”
For the first half ended September 2015, Jubilant's consolidated net sales increased by 2.1 per cent to Rs.2,883 crore from Rs.2,843 crore in the same period of last year. Its earned a net profit of Rs.244 crore as compared a loss of Rs.89 crore. EPS worked out to Rs.15.31. Its Pharmaceutical sales reached at Rs.1,488 crore and contributed 51 per cent to the overall mix. Its life sciences sales reached at Rs.1,434 crore. International sales amounted to Rs.2,110 crore.