Jubilant Life Sciences posts Rs 260.49 crore profit for March quarter

Consolidated revenue from operations stood at Rs 2,391.41 crore for the quarter under consideration as against Rs 2,385.58 crore for the same period year ago, it added.

Drug firm Jubilant Life Sciences on Friday reported a consolidated net profit of Rs 260.49 crore for the quarter ended on March 31, 2020, driven by robust sales in pharmaceuticals segment. The company had posted a net loss of Rs 100.65 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.

Consolidated revenue from operations stood at Rs 2,391.41 crore for the quarter under consideration as against Rs 2,385.58 crore for the same period year ago, it added.

Net profit of the company for the fiscal year ending March was at Rs 898.24 crore against Rs 577.01 crore for the previous fiscal year,  Jubilant Life Sciences said.

The company's revenue from operations stood at Rs 9,154.41 crore for the fiscal year ended March 2020. It was Rs 9,110.82 crore for the previous fiscal, it added.

"We are glad to report record profits in FY20 with improvement in margins across all the business segments. The Q4FY20 performance was impressive with EBITDA growth of 58 per cent YoY," Jubilant Life Sciences Chairman Shyam S Bhartia said.

Despite the COVID-19 led challenges, the company continues to experience strong demand across most of its businesses, Company Co-Chairman & MD Hari S Bhartia said.

During the year, the company reduced its net debt by Rs 514 crore and is focused on further deleveraging by generating healthy levels of cash flows, Jubilant Life Sciences said.

The company signed Licensing Agreement with Gilead Sciences to register, manufacture and sell Gilead's investigational drug, remdesivir, a potential therapy for coronavirus in 127 countries including India, and is working towards launching the drug in July 2020, it added.

In fourth quarter of FY2020, the company announced and paid an interim dividend of Rs 5 per share of Re 1 paid up for FY20, which is the final dividend for the year as well, the filing said.

Shares of Jubilant Life Sciences closed at Rs 442.25 on BSE, up 1.73 per cent from the previous close.

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