Drug firm Jubilant Life Sciences Tuesday said its board has approved payment of 0.25 per cent of the company's consolidated revenue to promoter group firm Jubilant Enpro as brand royalty from fiscal year 2020.
"The Board of Directors of the Company has approved the payment of a corporate brand royalty to Jubilant Enpro Pvt Ltd (a promoter group company), which owns the corporate brand name Jubilant," Jubilant Life Sciences said in a filing to BSE.
The royalty payment will enable the group to help protect, nurture and enhance the corporate brand name Jubilant and the group's image globally, it added.
"It has been decided to pay 0.25 per cent of the consolidated revenue of the company effective FY 20 as royalty," Jubilant Life Sciences said.
Jubilant Enpro, a strategic venture business segment of Jubilant Corporation, focuses mainly on the services sector of India.
Shares of Jubilant Life Sciences closed at Rs 738.35 on BSE, up 0.72 per cent from the previous close.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)