Jubilant Ingrevia Q1 net profit dips ~16% y-o-y

18 Jul 2024 , 11:11 AM

Jubilant Ingrevia Ltd reported a 15.5% YoY fall in net profit to ₹48.7 Crore for the first quarter ending June 30, 2024.

In the same quarter, Jubilant Ingrevia reported a net profit of ₹57.6 Crore, according to a regulatory filing. The company’s revenue from operations decreased by 4.7% to ₹1,024.3 Crore, compared to ₹1,075 Crore in the previous fiscal year.

In Q1 of this fiscal year, EBITDA decreased by 6.3% to ₹109.5 Crore against ₹116.8 Crore in the previous corresponding period. The EBITDA margin was 10.7% in the reporting quarter, compared to 10.9% in the same period in FY24.

The company stated that its production facility in Bharuch successfully completed its USFDA inspection with zero 483 findings. This GMP-compliant facility is designed to manufacture nutraceuticals and dietary active components.

Shyam S. Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman, stated “the pharmaceutical end-use segment continues to experience strong demand trends and healthy volume placements. We are also pleased to announce that we have gained significant traction in the regulated markets of North America, Europe, and Japan.”

Visible indicators of additional improvement in demand for certain products indicate that the near-term prognosis remains positive, while pricing remains stable. However, we are seeing continued pressure on the acetyl segment because of decreasing demand from the paracetamol end-use market, he added.

At around 11.06 AM, Jubilant Ingrevia was trading 5.68% lower at ₹553.60, against the previous close of ₹586.95 on NSE. The counter touched an intraday high and low of ₹581.95, and ₹551.10, respectively.

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