Total revenue from operations rose 9.85% year on year to Rs 1,678 crore in the quarter ended 31 March 2023.
The pharma company reported a pre-tax loss of Rs 86.41 crore in Q4 FY23 as compared with profit before tax of Rs 105.67 crore in Q4 FY22.
EBITDA fell 8.2% to Rs 224 crore as compared to Rs 244 crore during the corresponding period of previous year. EBITDA margin slipped to 13.3% in Q4 FY23 as against 16% in Q4 FY22.
During the quarter, the LSI business demerged from 1 February 2021 into Jubilant Ingrevia. The revenues and EBITDA continued to see impact of COVID-19 on the pharmaceuticals business particularly radiopharma.
During the quarter, the company's revenue from the Radiopharma business was at Rs 689.36 core (up 21.8% YoY), revenue from the Allergy Immunotherapy business stood at Rs 169.86 crore (up 31.51% YoY), revenue from the CDMO Sterile Injectables business was at Rs 346.68 crore (up 9.92% YoY), Generics business was at Rs 199.68 crore (up 10.12% YoY) and revenue from the Contract Research, Development and Manufacturing Organisation business was Rs 317.58 crore (up 16.39% YoY).
Meanwhile, Jubilant Pharmova's wholly owned subsidiary, Jubilant HollisterStier General Partnership (JHSGP) announced that USFDA has determined inspection classification of the facility as 'Official Action Indicated' (OAI) after the February 2023 audit of the Contract Manufacturing (CMO) facility at Montreal Canada. The company said it is engaging closely with the USFDA and is committed to address the observations within the stipulated time.
Further, Hari S. Bhartia, presently co-chairman & managing director has decided to step down from the position of managing director of the company effective closing business hours of 31 May 2023 and he shall continue as co-chairman, nonexecutive director on the board of the company.
The board has approved appointment of Priyavrat Bhartia as managing director effective from 1 June 2023 and appointment of Arjun Shanker Bhartia as joint managing director with effect from 1 June 2023 for a period of 3 years, subject to the approval of shareholders.
Arun K Sharma, chief financial officer and key managerial personnel of the company, will step down from the post of CFO and take up the role of group treasurer. The company is in the process of identifying and appointing a successor to Sharma.
Arvind Chokhany, group chief financial officer Jubilant Bhartia Group & whole-time director has taken up an additional role as CFO of Jubilant Pharmova effective from 1 June 2023. This is to ensure smooth transition to the new CFO.
Jubilant Pharmova said that the changes in leadership and board composition align with company's succession planning strategy.
Jubilant Pharmova (erstwhile Jubilant Life Sciences) is engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses.
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