Jubilant Pharmova reports significant increase in Q1 net profit to Rs 481.8 crore
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New Delhi: Jubilant Pharmova Ltd has announced a significant increase in its consolidated net profit to Rs 481.8 crore. The net profit was boosted by gain on sale on investment in associate firm SOFIE Biosciences Inc USA.
According to a regulatory filing by Jubilant Pharmova, the company had reported a consolidated net profit of Rs 6 crore in the previous year
Consolidated total revenue from operations stood at Rs 1,731.7 crore as against Rs 1,586.9 crore in the year-ago period, it added.
The exceptional items in the first quarter of the current fiscal include net income of Rs 669.2 crore following sale of investment in SOFIE, expenses of Rs 91.6 crore accrued due to closure of manufacturing operations of solid dosage formulation facility at Salisbury, Maryland, USA; Rs 95.3 crore provision for slow moving inventory in respect of solid dosage formulation business and litigation cost of Rs 50 crore among others.
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