Shares of Jubilant Pharmova Ltd. tumbled over 11 percent in trade on Tuesday after the company reported a loss in the fourth quarter, compared to a net profit in the same period last year.
The pharma company reported a net loss of Rs 100.5 crore in the March quarter compared to a profit of Rs 59.09 crore in the year-ago period.
The loss was on account of weaker margins, impairment charges of Rs 171 crore related to certain intangible assets and a rise in the company’s net debt.
Jubilant Pharmova’s revenue rose 9.8 percent year-on-year to Rs 1,678 crore in the March quarter, compared to Rs 1,527.5 crore. Revenue growth was mainly aided by growth in the radiopharmacies, CDMO sterile injectables and allergy businesses.
Operating profit, or EBITDA (earnings before interest, tax, depreciation and amortisation), fell 11.4 percent to Rs 219.2 crore in the March quarter from Rs 247.3 crore a year ago.
EBITDA Margin also narrowed to 13.1 percent versus 16.2 percent last year due to weakness in margins of the radiopharma, generics and CDMO API segments.
Among specific segments, the radiopharma unit’s revenue stood at Rs 215 crore compared with Rs 224 crore a year ago, but margin fell substantially to 46.6 percent from 62.1 percent in the same period last year.
The radiopharmacies business saw revenue rising to Rs 475 crore from Rs 342 crore a year ago, with margin also improving to 28 percent from 22 percent.
The allergy immunotherapy business revenue jumped to Rs 170 crore from Rs 129 crore a year ago, while margin rose to 32.6 percent from 27.8 percent.
Meanwhile, the CDMO sterile injectable unit posted revenue of Rs 321 crore compared with Rs 288 crore a year ago, but margin slipped slightly to 26.7 percent from 27.3 percent.
After falling as much as 11 percent in early trade, Jubilant Pharmova's shares are trading 7.7 percent lower at Rs 331.
