Jubilant Organosys consolidated net surges by over 40%

Jubilant Organosys Ltd (JOL), an integrated pharmaceutical industry player and major CRAMS provider in India, has posted strong performance during the third quarter ended December 2007. The company's consolidated net profit increased by 40.3 per cent to Rs 89.4 crore from Rs 63.7 crore in the corresponding period of last year. It's consolidated net sales increased by 36.7 per cent to Rs 641.6 crore from Rs 469.3 crore. With better growth in profits, its earning per share moved up to Rs 6.22 from Rs 4.45 in the last period. The contribution of pharmaceutical segment increased to 62 per cent in total sales during the quarter under review from 49 per cent in the last period. The pharma division recorded net sales of Rs 397.8 crore as against Rs 229.2 crore in the corresponding period of last year. CRAMS sales increased to Rs 342.8 crore from RS 173.3 crore, a growth of 97.8 per cent in third quarter of 2007-08. This includes sales of recently acquired Hollister-Stier of Rs 81.1 crore. The company's export revenue increased by 63.8 per cent to Rs 346.20 crore from Rs 211.40 crore in the corresponding quarter of last year. Commenting on the company's working, Shyam S Bhartia, chairman and managing director, said, "Third quarter results registered a strong growth, which is in continuance of trends witnessed through the first and second quarter. This was possible through spectacular growth in CRAMS and we see more such growth accruing to our business going forward based on improved capacities, new launches and long term contracts. Given the traction we are witnessing from our key customers for their outsourcing requirements of products and services, we remain confident on delivering a healthy increase in revenues and expansion in operating profit margins going forward". For the nine months ended December 2007, JOL has achieved net profit growth of 108.5 per cent to Rs 342.3 crore from RS 164.2 crore in the last period. Its net sales moved up by 33.7 per cent to Rs 1799.9 crore from Rs 1246.4 crore. Revenues from international operations increased by 53.8 per cent to Rs 951.1 crore from Rs 618.3 crore mainly due to noticeable contributions from the regulated markets and China.