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Drug firm Jubilant Life Sciences on Wednesday reported a 10.13 per cent decline in its consolidated net profit to ₹224.12 crore for the quarter ended September, mainly on account of higher taxes.
The company had posted a net profit of ₹249.39 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a BSE filing.
Total revenue from operations stood at Rs 2,374.89 crore for the quarter under consideration. It was ₹2,265.93 crore for the same period a year ago, it added.
Tax expense of the company for the quarter was ₹89.55 crore as against ₹42.84 crore for the same period of the previous fiscal, the filing said.
“Q2’FY21 has witnessed a substantial improvement over the previous quarter despite continued adverse impact of the Covid-19 pandemic in at least the first half of Q2,” Jubilant Life Sciences Chairman Shyam S Bhartia and Co-Chairman & MD Hari S Bhartia said.
With the strong demand recovery and new business sign-ups, “we expect strong performance in our Pharma, Life Science Ingredients (LSI) and Drug Discovery & Development Solutions (DDDS) businesses in the H2’FY21,” they added.
Shares of Jubilant Life Sciences closed at ₹706.70 per scrip on BSE, up 1.50 per cent over previous close.
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