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Jubilant Life Sciences has reported a net profit of ₹116.93 crore for the third quarter ended December 31, 2015. For the same quarter of the previous fiscal, the pharmaceutical major had posted a net loss of ₹11.16 crore.
Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman and Managing Director, Jubilant Life Sciences, said in a joint statement: “We have been able to sustain the momentum generated in the last few quarters and major initiatives undertaken by the company have started yielding results. Our commitment to the highest level of quality and compliance has been demonstrated by the successful inspection of all our facilities by the US FDA during the year.”
The company further said it expects consistent growth in pharmaceutical and life sciences divisions. The former is expected to be driven by new generic product launches.
Jubilant’s recorded a total Income of ₹1,382.3 crore for the quarter ended December 31, 2015, against ₹1,451.53 crore for the same quarter of the previous fiscal.
In its filing with the BSE, the company said the figures for the third quarter of this fiscal are not comparable to same period of the previous fiscal “due to transfer of certain businesses to Jubilant Generics Ltd, a step-down wholly-owned subsidiary with effect from July 1, 2014.”
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