The Hindu Business Line : Jubilant Organosys posts 40% growth in Q3 net

New Delhi, Jan 30 Jubilant Organosys has reported a 40 per cent growth in consolidate net profits at about Rs 90 crore for the third quarter compared to Rs 63.7 the corresponding quarter, the previous year.

Net sales grew 37 per cent to Rs. 641.6 crore, with the company nearly doubling its customer research and manufacturing services (CRAMS) business during the third quarter to Rs 343 crore , said the company.

“We see the share of our CRAMs business, which now accounts for 53 per cent of our revenues increasing further. The expansion of the business is contributing better quality of revenues and margins to our profitability,” said Mr Shyam S. Bhartia, Chairman and Managing Director, Jubilant Organosys. Operating margins, which stood at an average of 23.8 per cent, are at 27 per cent for CRAMs business. The company is in talks with international pharma players for new long term contracts.

Global sales

International sales grew by 64 per cent to Rs 346.2 crore. Consolidated EBITDA during the third quarter also rose by 41 per cent at Rs. 152.6 crore. The EPS for the quarter was up by 39.6 per cent to Rs. 5.01. The pharmaceuticals and life science products and services business now contributes to more than half of Jubilant’s revenues.

The industrial and performance products saw a marginal growth during the quarter to Rs 241.4 crore as against 240 crore reported the corresponding quarter.

Expressing confidence of meeting its outlook of a 35 per cent growth in revenues for the full year, the Co-Chairman and Managing Director, Mr Hari S. Bhartia, said in a release, “Given the traction we are witnessing from our key customers for their outsourcing requirements of product and services, we remain confident on delivering a healthy increase in revenues and expansion in operating profit margins.”

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