Jubilant Life Sciences reported a net loss of Rs 78.3 crore for the quarter ended December 2011. The company had earned a profit of Rs 44 crore during the corresponding period last year. Consolidated revenues climbed 26 per cent to Rs 1,087 crore from Rs 866 crore.
The losses have been on account of foreign exchange payout on its loans. Commenting on the company's performance, Mr Shyam S. Bhartia, Chairman & Managing Director said: “We are confident of delivering robust growth in the ensuing period backed by higher capacity utilisations, new product launches across all our products business and sustained higher margins in services business.”
The pharmaceutical company said that the overall underlying strength of its business has been strong with increasing order book position and capacity utilisation in all business segments. “The company expects to continue to build on the robust sustainable revenue and margin growth momentum recorded for the nine month period,” it said in a statement.
In the products business, revenue growth would be on account of utilisation of new capacities, new product launches and geographic expansion while operating profit growth would be backed by improved capacity utilisation, increased vertical integration and favourable prices in certain key products.
In its services business, focused margin improvement initiatives, increased capacity utilisation, higher margin product mix and cost optimization would continue to lead to higher profitability, it said.