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Jubilant Life Sciences has surged by 13% to Rs 355, extending its previous day’s over 10% rally on the BSE, after the company’s consolidated net profit jumped by over 26 times to Rs 128 crore for the first quarter ended June 30, helped by lower expenses.
The pharmaceuticals company had posted a net profit of Rs 4.78 crore during the same period of the previous fiscal.
The pharmaceuticals company had posted a net profit of Rs 4.78 crore during the same period of the previous fiscal.
The pharmaceutical company is trading at 52-week high, having zoomed by 25% in the past two trading sessions from Rs 283 on August 10.
Meanwhile, the company's net sales declined marginally by 1.51% to Rs 1,438 crore compared to Rs 1,461 crore in the same period of the previous fiscal.
Commenting on outlook, the company said that its revenue growth in FY2016 is expected to be driven by the pharmaceuticals segment, primarily led by growth in radiopharmaceuticals, normalization of CMO business and growth in generics business through new products.
Our life science ingredients segment is expected to deliver better results compared to FY2015 led by improved operational efficiency and growth in nutritional products and specialty ingredients, the company said in a statement.
At 09:33 AM, the stock was up 11% at Rs 348 on the BSE. A combined 2.65 million shares have changed hands on the counter on the BSE and NSE so far.
