Jubilant Pharmova shares fell after Q1 profit plunged 45% YoY to Rs 56 crore, despite revenue rising 17% to Rs 2,229 crore. The profit decline was attributed to weaker operating profitability and higher depreciation, while strong growth across segments, led by CDMO Sterile Injectables, boosted revenue.
Jubilant Pharmova shares fell after Q1 profit plunged 45% YoY to Rs 56 crore, despite revenue rising 17% to Rs 2,229 crore. The profit decline was attributed to weaker operating profitability and higher depreciation, while strong growth across segments, led by CDMO Sterile Injectables, boosted revenue.
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Shares of Jubilant Pharmova dropped nearly 6% to the day’s low of Rs 908 on BSE after the company reported a decline of 45% year-on-year (YoY) in consolidated profit to Rs 56 crore in the first quarter ended June.According to a filing with the exchange, the reported profit decreased YoY due to lower operating profitability and increase in depreciation for Line 3 in Spokane.The revenue went up 17% on yearly basis to Rs 2,229 crore against Rs 1,901 crore in the same time period a year ago on the …
