Jubilant Pharmova Q2 PAT drops 74% YoY to Rs 31 cr
Profit before tax (PBT) tumbled 67.58% to Rs 61.7 crore in Q2 FY27 compared with Rs 190.3 crore in Q2 FY26.
EBITDA fell 27% YoY to Rs 255 crore, compared with Rs 351 crore in the year-ago quarter. Consequently, EBITDA margin contracted by 708 basis points to 10.7% from 17.8%.
Radiopharmacy revenue grew 10% YoY to Rs 667 crore in Q2 FY27, supported by higher volumes of certain PET products. The company's proposed investment of over US$ 60 million towards establishing six new PET manufacturing facilities is progressing, with the sites expected to become operational in FY28.
The Allergy Immunotherapy business recorded an 18% YoY increase in revenue to Rs 230 crore, driven by strong demand in both the US and international markets.
Revenue from the CDMO Sterile Injectables business increased 33% YoY to Rs 522 crore, supported by incremental contributions from the company's third manufacturing line. More than 13 products across multiple formats and vial sizes are currently undergoing technology transfer on Line 3.
In the Contract Research, Development and Manufacturing Organisation (CRDMO) business, Drug Discovery revenue grew 11% YoY to Rs 180 crore, while the Active Pharmaceutical Ingredients (API) business reported a marginal 2% increase to Rs 140 crore. The company indicated that higher raw material costs amid the West Asia conflict also affected margins. It is focusing on improving its revenue mix towards profitable products and implementing cost optimisation initiatives.
Meanwhile, the Generics business delivered strong growth, with revenue surging 64% YoY to Rs 274 crore in Q2 FY27. EBITDA increased 46% to Rs 20 crore, supported by contributions from multiple new product launches during FY27.
Shyam S Bhartia, chairman Jubilant Pharmova and Hari S Bhartia, co-chairman & non-executive director, Jubilant Pharmova, said, ?We are pleased to announce revenue of Rs 2,370 crore for Q2?FY27, which reflects a solid growth of 21% on YoY basis. Revenue growth is broad based across all our business segments, but particularly strong in CDMO Sterile Injectables on the back of technology transfer revenues from the new and third line. EBITDA for the quarter stands at Rs 255 crore EBITDA margins declined year-on-year, primarily due to the unavailability of high-margin SPECT radiopharmaceutical products in the Radiopharmaceuticals business. Additionally, margins were impacted by higher operating expenses, including incremental remediation costs at the CMO Montreal facility. Reported PAT for the period stands at Rs 31 crore PAT margins decreased due to lower operating profitability and increase in depreciation.
During Q2?FY27, we saw continued growth momentum in the Ruby-Fill installs. We also saw the release of Commercial SPECT radiopharmaceutical product from CMO Montreal, post the restart of production. We signed an agreement with a large radiopharmaceutical player to distribute one of the leading PET diagnostic products through our new PET pharmacies. In the Allergy Immunotherapy business, we witnessed increase in demand from both markets, US and Outside US. In the CDMO Sterile Injectables business, we signed a master services agreement with a large innovator pharma company for manufacturing and commercial supply of one of the largest oncology products. In the CRDMO business, we expect increase in revenues from Biotech customer segment and custom manufacturing revenue line. In the Generics Business, we saw sharp revenue growth on the back of multiple new products launched in FY27.?
Jubilant Pharmova is an integrated global pharmaceutical company with three business segments, namely pharmaceuticals, contract research and development services, and proprietary novel drugs.
The counter fell 1.74% to settle at Rs 965.10 on the BSE.
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