Jubilant Pharmova Q2 Profit Soars 65% to ₹103 Crore

Jubilant Pharmova announced a 65% increase in its consolidated net profit, reaching ₹102.5 crore for the second quarter ending September 2024. This growth was driven by strong revenue performance.

Quick Insights 

• Revenue: ₹1,667 crore, up by 4.5% YoY.
• Net Profit: ₹103 crore, increased by 65.1% compared to last year. 
• EPS: ₹6.45, down by 78.68% YoY. 
• Management's Take: The company announced that its wholly owned subsidiary, Jubilant Pharma Holdings Inc.
• in the USA, has voluntarily paid off a term loan of USD 25 million (about ₹210 crore) using its internal funds on October 23, 2024.
• Stock Reaction: Jubilant Pharmov Shares price is down 4% trading at ₹1,063.65 on BSE, after the earnings announcement.

Management Commentary

In a recent regulatory filing, Jubilant Pharmova announced that its wholly owned subsidiary, Jubilant Pharma Holdings Inc. in the USA, has voluntarily paid off a term loan of USD 25 million (approximately ₹210 crore). This repayment was made on 23 October 2024 using the company’s internal funds. This move demonstrates the subsidiary's strong financial position and commitment to managing its debt responsibly.

Stock Market Reaction

Jubilant Pharmova reported strong Q2 results with a net profit increase of 65.1% reaching ₹103 crore compared to ₹62.1 crore in the previous year. Revenue also saw a 4.5% rise totaling ₹1,742 crore up from ₹1,667 crore. EBITDA grew by 22.4% amounting to ₹279 crore compared to ₹228 crore last year while the margin improved to16%from13.7%. Despite these positive results the company’s share price closed down 4% at ₹1,060, amid a generally weak market as Nifty index fell by 0.77%.

About Jubilant Pharmova

Jubilant Pharmova is a leading global pharmaceutical and biotechnology company headquartered in India. It specializes in developing and manufacturing a wide range of pharmaceutical products including generic drugs, specialty pharmaceuticals and active pharmaceutical ingredients (APIs). The company has a strong presence in North America, Europe and other international markets focusing on delivering high quality healthcare solutions.

Jubilant Pharmova also emphasizes research and development, driving innovation in drug formulation and delivery. With a commitment to sustainability and corporate social responsibility, the company aims to improve patient outcomes while adhering to stringent regulatory standards and ethical practices in the pharmaceutical 
industry.