Jubilant Pharmova profits Rs 160 crore in Q1FY22

Jubilant Pharmova on July 13 reported net profit of Rs 160 crore in Q1FY22, a year-on-year (YoY) jump of three and half fold compared to corresponding period's low base hit by COVID related disruption.

The net profit jump was led by gradual recovery in specialty radiopharmaceutical business hit by COVID-19, traction in contract manufacturing and generics segment performing well on COVID antiviral drug Remdesivir sales.

The company in Q1FY21 reported a net profit of Rs 35 crore. Revenues rose 41 percent YoY to Rs 1,635 crore in Q1FY22 versus Rs 1,156 crore in Q1FY21.

The earnings before interest, tax, depreciation and amortisation (EBITDA) margins stood at 23.2 percent in Q1FY22, reporting an increase of 7.4 percentage points.

The specialty pharma segment that constitutes 41 percent of company's total revenue grew 18 percent YoY to Rs 632 crore. The CDMO business that constitutes 31 percent or Rs 474 crore rose 70 percent and generic business and generics business rose 54 percent to Rs 362 crore.