Drug firm Jubilant Life Sciences today said its consolidated net profit zoomed nearly 14-fold to Rs 149.03 crore for the March quarter on robust sales.
The company had posted a net profit of Rs 10.86 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in a filing to BSE.
Consolidated total revenue from operations also rose to Rs 1,641.42 crore for the quarter under consideration as against Rs 1,515.83 crore for the same period a year ago.
For the fiscal year ended March this year, the net profit of the company rose to Rs 574.62 crore as against Rs 386.82 crore a year ago.
Total revenue from operations stood at Rs 6,006.32 crore for the fiscal year ended March 31, 2017. It was Rs 5,893.31 crore for the previous fiscal year.
"The differentiated business model focusing on speciality pharmaceuticals has enabled us to deliver exceptional results and build a strong base for growth in our pharma business", Jubilant Life Sciences Chairman Shyam S Bhartia and Co- Chairman & MD Hari S Bhartia said.
The company has generated strong operating cash flow which enabled reduction of debt and is expected to deliver better results going forward, they added.
In a separate filing the company said its board has recommended a dividend of Rs 3 per equity share of Re 1 each for the year ended March 31, 2017.
The company said it expects robust growth to continue going forward, driven by our speciality pharma business.
"In FY2018, better revenues and profitability is expected, led by integration of strategic acquisition and new product launches from our strong pipeline", Jubilant Life Sciences said.
Shares of Jubilant Life Sciences today closed at Rs 678.25 per scrip on BSE, down 0.54 per cent from the previous close.
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