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Indian pharmaceutical company Jubilant Life Sciences has said in a statement that the company has designated Rs. 550 crores for the capital expenditure (CapEx) for the current fiscal year of 2019 and is also considering Rs. 300 crores for the Research And Development (R&D)
According to the Chairman, the company is pharma company is looking to increase its revenue and operating profit in the fiscal year 2019 by banking on growth drivers such as specialty pharmaceutical, active pharmaceutical ingredient (API) and generic & life sciences ingredient. The drug-maker will also continue its efforts to strengthen its balance sheet by reducing debt and improving financial ratios.
The company reported their quarterly financial report for the fiscal year 2019 with a net consolidated profit of Rs. 200 crores, a 39.4% hike in profit percent in comparison to Rs. 143.7 crores in the same quarter period of the previous year. The company’s total consolidated revenue from operations stood at Rs. 2078.6 crores during the quarter under review, posting a 33.6% rise as against Rs.1596 crores during the corresponding period of previous year.
