Jubilant Organosys net zooms ten fold at Rs 126 cr

Pharmaceutical firm Jubilant Organosys today said its consolidated net profit for the quarter ended June 31, 2009 jumped nearly ten fold to Rs 125.82 crore due to mark-to-market gains over the same period last year.

The company had a net profit of Rs 12.76 crore in the same period ended June 2008, Jubilant Organosys said in a filing to the Bombay Stock Exchange (BSE).

"Going forward improved capacity utilisation, better synergies from integration and new collaborations with global pharmaceutical companies will deliver expected growth and improvement in margins," Jubilant Organosys CMD Shyam S Bhartia and Co-Chairman & MD Hari S Bhartia said here today.

During the first quarter the company had a gain of Rs 49.1 crore. This comprises a gain of Rs 71.2 crore on a mark-to-market of unassigned forward contracts outstanding as on June 30, 2009 and unrealised loss of Rs 22.1 crore on foreign currency loans, the BSE filing added.

Total income rose to Rs 901.33 crore in the June quarter of the current fiscal against Rs 831.02 crore in the same quarter last year.