Moneycontrol Bureau
Shares of Jubilant Life Sciences surged 9 percent intraday on Friday riding high on its December quarter results. Its net profit jumped 437 percent to Rs 143.43 crore for the third quarter ended December 2013, up from Rs 26.69 crore year-on-year.
Its total income grew 10 percent growth at Rs 1,442.78 crore in the quarter against Rs 1,306.39 crore in a yearly basis.
The company feels that revenues and EBIDTA are expected to improve in the coming quarters led by improved capacity utilisations in sterile injectables and OCL, nutrition ingredients, Symtet and 3CP, backward integration of Pyridine and expansion to newer markets. “We expect revenue growth due to strong pipeline in APIs and solid dosage formulations, new product launches, expansion in newer geographies in API and Formulations, and robust order book in sterile injectables,” it says in a statement.
At 11:47 hrs Jubilant Life Sciences was quoting at Rs 139.70, up Rs 7.25, or 5.47 percent.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.