Pharma firm Jubilant Organosys today reported a consolidated net profit of Rs 57.68 crore for the second quarter ended September 30 against a net loss of Rs 62.72 crore in the corresponding period a year ago.
Consolidated total income, however, decreased to Rs 939.66 crore during the September quarter from Rs 947.58 crore in the same period previous fiscal, Jubilant Organosys said in a filing to the Bombay Stock Exchange.
The board of the company has approved to raise Rs 500 crore through issue of equity or equity related instruments.
"The strategic focus on pharma and life sciences business is delivering results through new product launches and new customer additions. We expect this trend to strengthen further and are confident of achieving much higher revenue growth," Jubilant Chairman & Managing Director Shyam S Bhartia said.
Further,the board has also approved hiving off of the application polymers division and consumer products division, besides, changing the name of the company to Jubilant Life Sciences Ltd.
On standalone basis, the company posted a net profit of Rs 55.49 crore at the end of the September quarter against a net loss of Rs 24.39 crore in the year-ago period.
Standalone total income declined to Rs 632.57 crore during the July-September period of the current fiscal from Rs 685.28 crore in the corresponding period a year-ago.
Shares of Jubilant closed at Rs 211.40, down 4.37 per cent over previous close on the BSE.