Jubilant Life Sciences stock price slumped after its consolidated net losses for Q2FY15 rose to Rs.94 crore, up from Rs.81 crore loss in Q2FY14. This loss, the company has explained was mainly on account of continued impact of US FDA Warning letter on Spokane facility and adverse price impact on account of new capacities and regulatory changes in China in Advanced Intermediates business. Also Solid Dosage Formulations order postponement in Japan and delays in product approvals in the US pushed the company further into red. And for H1FY15, consolidated net loss was at Rs.89 crore, lesser than the loss of Rs.133 crore in previous H1.

Revenues from pharmaceuticals was Rs.614 crore, down 11% and life science ingredients segment was Rs.757 crore, up 2%. International revenues, at Rs.955 crore, contributed 70% to the overall mix. Indian markets grew 14% YoY to Rs 416 crore. EBITDA margin came in at 10%, down from 19.2% in previous Q2 and 10.2% on sequential basis. It was lower volumes which offset 6% price increase.

Regarding Spokane and US FDA warning letter, the company has said that it is working with the authorities and hopes for a speedy resolution. Production restarted after planned shut down and it is hoping to catch up on order backlogs. The company has mentioned that ongoing clients have continued to maintain existing contracts.