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Jubilant Life Sciences on Tuesday reported a 65.41 per cent increase in its consolidated net profit at ₹70.68 crore for the quarter ended March 31, compared to the same quarter of the previous fiscal when it had posted a net profit of ₹42.73 crore.
“In fiscal year 2016-17, we expect to continue the growth momentum of the company. Revenue growth in the pharmaceuticals segment is expected to be driven by new product launches in generics and radiopharmaceuticals,” the company said in a statement. The company’s total income during the quarter, however, took a small dip to stand at ₹1,501.27 crore, down from ₹1,536.54 in the year-ago period.
Jubilant witnessed a turnaround in fiscal 2016, ending the year with a net profit of ₹431.49 crore, against a net loss of ₹57.76 crore during 2014-15. In a statement, Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman and Managing Director, Jubilant Life Sciences, said: “We are pleased to report the culmination of a year, which in many ways has validated our business model and strategy.
“We delivered strong and consistent performance through the year thereby achieving our highest-ever EBITDA of ₹1,291 crore in FY2016. We are confident that our strategic initiatives and strong pipeline will help us capitalise and grow both our business segments going forward.”
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