The Hindu Business Line : Jubilant Organosys sales up, profit dips

JUBILANT Organosys Ltd, on a consolidated basis, recorded net sales of Rs 331.5 crore for the second quarter ended September 30, a growth of 13 per cent compared to Rs 293.7 crore registered last year.

The consolidated net profit, however declined by 24 per cent to Rs 23.6 crore compared to Rs 31.1 crore recorded last year.

For the Indian business, net sales during the second quarter of the current financial year increased by 17 per cent to Rs 330.5 crore while net profit declined by 11 per cent to Rs 26.9 crore compared to Rs 30.3 crore registered last year.

During the first six months of the year, the company recorded consolidated net sales of Rs 658.2 crore, a growth of 18 per cent while profit after tax declined by 23 per cent to Rs 44.9 crore.

The net sales of the Indian operations increased by 20 per cent to Rs 637.4 crore while net profit declined by three per cent at Rs 50.5 crore. The company expects continued growth in revenues and earnings this financial year.Jubilant's share price rose by 1.29 per cent to close at Rs 1,015 on Friday on the Bombay Stock Exchange and fell by 2.59 per cent on the National Stock Exchange to close at Rs 973.80.

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