Fuelled by exceptional exchange gains
Pharma and life sciences major Jubilant Life Sciences has reported a profit after tax of Rs 152 crore — a 92 per cent jump for the second quarter ended September. The corresponding figure for the same period last fiscal was Rs 79 crore.
Jubilant Life Sciences said in a statement that the jump was fuelled by exceptional exchange gains. The normalised profit after tax (PAT) stood at Rs 103 crore for Q2FY13.
In Q2FY13, income from operations stood at Rs 1,225 crore, showing a 16 per cent year on year growth. The accompanying volume growth was 11 per cent.
Commenting on the company’s performance in an earnings call, Shyam S. Bhartia, chairman and managing director, and Hari S Bhartia, co-chairman and managing director, Jubilant Life Sciences, said: “Revenue and operating profit growth are in line with our expectations. Continued focus on enhancing market shares across business lines, new product launches in both segments and enhanced capacity utilisation would drive achievement of annual guidance given earlier.”
In H1FY13, income from operations was at Rs 2,465 crore with 23 per cent year on year growth. The corresponding increment in volumes was 17 per cent.
During the quarter, the company said it recorded a net gain of Rs 49 crore as exceptional items, mainly by benefiting from the rupee-dollar currency movement.
Income from the life science segment stood at Rs 575 crore, up 15 per cent over the corresponding quarter last fiscal and contributed 47 per cent to the overall revenue.
The company said that in the period under review, revenue from North America was at Rs 512 crore, up 20 per cent from the same period last fiscal, and revenues from Europe and Japan stood at Rs 240 crore — up 29 per cent. Domestic revenues stood flat at Rs 337 crore, the company said.