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Drug firm Jubilant Life Sciences today said it has narrowed its consolidated net loss to Rs 30.97 crore for the fourth quarter ended March 31, 2013, mainly on account of robust sales.
The company had posted a net loss of Rs 63.53 crore for the corresponding period previous fiscal, the company said in a filing to the BSE.
The net loss includes loss after taxes, minority interest and share of profit/loss of the associates.
Consolidated total income of the company however rose to Rs 1,392.04 crore for the quarter under consideration from 1,204.29 crore for the same period year ago.
In a separate filing the company said its board has a approved to constitute a committee to explore options and opportunities to raise debt for the company up to an amount not exceeding $250 million (over Rs 1,350 crore) for prepayment of the existing debt and other general corporate purposes without increasing the overall net debt levels of the company.
The debt could be raised by way of issue of foreign currency bonds and/or non-convertible debentures, or by any one or more or a combination of the above or otherwise, whether by way of a public offering or by way of a private placement, it added.
Consolidated net profit of the company stood at Rs 152.73 crore for the financial year ended March 31, 2013 as against Rs 14.56 crore for the previous fiscal year.
The company posted a consolidated total income of Rs 5,160.95 crore for the fiscal year under consideration as against Rs 4,303.13 crore for the same period year last fiscal.
Commenting on the results, Shyam S Bhartia, Chairman & Managing Director of Jubilant Life Sciences said: “We are pleased to report that the company has delivered strong growth momentum in FY2013 in line with our annual guidance, driven by generic and radio-pharmaceutical businesses with new product launches and expansion in geographic outreach.”
Life Science ingredients segment has also shown robust growth backed by improved capacity utilisation in nutrition and proprietary products, he added.
In another filing on BSE, the company said its Board of Directors has recommended a dividend of Rs 3 per share of Re 1 each.
Shares of Jubilant Life Sciences today closed at Rs 178.05 per scrip on the BSE, up 1.14 per cent from their previous close.
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