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Jubilant Pharmova's consolidated profit declines 36.2% to Rs 142.8 cr in July-Sept quarter

Jubilant Pharmova's consolidated profit declines 36.2% to Rs 142.8 cr in July-Sept quarter

Drug firm Jubilant Pharmova on Friday reported that its net profit declined 36.24% to Rs 142.84 crore in the quarter ended September 2021 as against Rs 224.03 crore during the previous quarter ended September 2020.

Jubilant Pharmova's consolidated profit declines 36.2% Jubilant Pharmova's consolidated profit declines 36.2%

The company's sales rose 5.41 per cent to Rs 1,633.68 crore in the quarter ended September 2021 as against Rs 1549.79 crore in the last quarter ended September 2020.

Its total revenue from operations is Rs 1,657 crore for Q2 FY22, compared to Rs 1,591 crore in Q2 FY21. The firm's reported EBITDA stands at Rs 344 crore compared to Rs 353 crore in Q2 FY21. Its capital expenditure was Rs 131 crore.

"With the demerger of LSI business into Jubilant Ingrevia, effective February 1, 2021, the company's consolidated results for Q4'FY21 include only one month of LSI business, and consolidated results for FY21 include only ten months of LSI business. For FY21, our continuing operations, despite COVID-19 challenges, revenues were stable due to a diverse range of businesses," Shyam S Bhartia, Chairman and Hari S Bhartia, Co-Chairman and MD, Jubilant Pharmova said in a joint statement.

The company's pharmaceutical segment had an increase in its YoY revenue by 2 per cent to Rs 1,543 crore in Q2 FY22. CMO (contract manufacturing org) business revenue grew 11 per cent YoY based on continued strong demand from customers and due to COVID related deals.

Its radiopharma business witnessed improvement in sales YoY, however pace of recovery during the quarter was affected by an increase in COVID-19 cases in the US, the report said.

The generics business had Rs 330 crore revenue in Q2FY22, compared to Rs 423 crore in Q1FY21. The company said the generics business performance was adversely affected due to pricing pressure in the US market and lower volumes due to import alert at its Roorkee plant.

The company's research and development segment clocked in a revenue of Rs 108 crore, up by 44 per cent YoY on robust volume growth.