Jubilant Pharmova Limited posted net profit at Rs. 143 crore for the second quarter ended September 30, 2021.

The company's revenue was at Rs. 1,657 crore for the quarter as against Rs. 1,591 crore in Q2'FY21.

The company's radiopharma business witnessed improvement in sales YoY, however pace of recovery during the quarter was affected by increase in Covid-19 cases in the US, while CMO business revenue grew YoY based on continued strong demand from customers as well as due to Covid related deals.

The performance of API business was lower year-on-year due to higher base last year but sequentially witnessed strong growth with stable margins

Commenting on company’s performance, Shyam S Bhartia, chairman and Hari S Bhartia, co-chairman & managing director, Jubilant Pharmova said, “The company reported 4% topline growth during the quarter driven by steady revenues in the pharmaceuticals segment and robust growth in the contract research and development services (CRDS) segment. In the Pharmaceuticals segment, while radiopharma, allergy and CMO businesses reported growth on a YoY basis, the API business’ performance was lower on a higher base last year and generics business witnessed headwinds due to temporary pricing pressure in the US market. The generics business was also affected during the quarter by the import alert at the Roorkee plant and by impact of the Industry wide impurity issue in certain sartan products that led to lower sales and some product withdrawal."

The company has reported EBITDA at Rs. 35 crore as against Rs. 21 crore in Q2'FY21.