Jubilant Life falls on Q3 loss

Jubilant Life Sciences is the top loser on the BSE currently, down almost 7% at Rs.159 levels. Intra day low is at Rs.155.

The stock has slumped following its disappointing Q3 numbers which it announced yesterday after market hours. The company posted a consolidated net loss of Rs.11 crore v/s net profit of Rs.143 crore in previous Q3. Net sales at Rs.1428 crore was flat. The one-off expense of Rs.53 crore related to contract manufacturing expenses too had its adverse impact.

FII Nomura, in its report post the numbers has stated that the Jubilant’s sales in China fell 42% and this indicates pressure on advanced intermediaries in the region because excluding this, the life science ingredient business actually grew 7%. The FII continues with its ‘buy’ call on the stock despite the loss.