Jubilant Life Q1 net profit dips 93.50 pc

Jul 23 2012, 22:03 IST
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Jubilant Life Q1 net profit dips Jubilant Life Q1 net profit dips
SummaryJubilant Life Sciences said its consolidated net profit dipped due to unrealised mark-to-market forex loss on loans of Rs 104 crore.

Jubilant Life Sciences today said its consolidated net profit dipped by 93.50 per cent to Rs 5.01 crore for the quarter ended June 30, 2012, due to unrealised mark-to-market forex loss on loans of Rs 104 crore.

The company had posted a net profit of Rs 77.12 crore for the same period last fiscal, Jubilant Life Sciences said in a statement.

The consolidated net sales of the company rose to Rs 1,235.89 crore for the quarter ended June 30, 2012 from Rs 941.87 crore for the year-ago period.

"Profit before exceptional items, tax and minority interest was at Rs 158 crore, up 64 per cent year-on-year.

Reported profit after tax of Rs 5 crore was after accounting for unrealised mark to market forex loss on loans of Rs 104 crore," the company said.

Commenting on the results Jubilant Life Sciences Chairman and MD Shyam S Bhartia 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, year on year."

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 the revenue mix, he added.

In FY 2013, the company expects to maintain its guidance of achieving 20-22 per cent revenue growth with EBITDA margins sustainable at about 21 per cent, it added.

Shares of Jubilant Life Sciences today closed at Rs 172 apiece on the BSE, up 1.15 per cent from its previous close.

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