Jubilant Life Sciences shares tumbled 5 percent intraday on September 7 after the company declared its Q1 results.
The drug firm on September 4 reported a 52.42 percent decline in its consolidated net profit to Rs 88.01 crore for the quarter ended June 30, 2020. It had posted a net profit of Rs 184.98 crore for the corresponding period of the previous fiscal, Jubilant Life Sciences said in an exchange filing.
Consolidated total revenue from the operations of the company stood at Rs 1,892.92 crore for the quarter under consideration. It was Rs 2,181.86 crore for the same period a year ago, it added.
The stock price was trading at Rs 788.45, down Rs 41.15, or 4.96 percent. It has touched an intraday high of Rs 808.50 and an intraday low of Rs 772.95.
"During the quarter, we worked diligently towards employees' safety while continuing to serve our global customers by maintaining our operations," said Jubilant Life Sciences Chairman Shyam S. Bhartia and Co-Chairman and MD Hari S Bhartia.
"Overall, barring unforeseen circumstances, we expect strong performance in our Pharma, Life Science Ingredients (LSI) and Drug Discovery and Development Solutions (DDDS) business in the remaining three quarters of FY21" the company added.
The company in another filing to the exchange said that Alok Vaish, Chief Financial Officer and Key Managerial Personnel, has tendered his resignation which has been accepted by the company.
According to Moneycontrol SWOT Analysis powered by Trendlyne, MFs decreased their shareholding last quarter while the company has declining net cash flow : It is not able to generate net cash.
Moneycontrol technical rating is neutral with moving averages being neutral and technical indicators being bearish.
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