Jubilant Pharmova reports dip in its net profit by 97% for Q2FY23

Jubilant Pharmova reported total income of INR 1,599.5 crores during the period ended September 30, 2022 as compared to INR 1,657.7 crores during the period ended September 30, 2021 depicting a dip of 3% while the net profit further plummeted by 97% as the company posted net profit INR 5 crores for the period ended September 30, 2022 vs INR 142 crores during the same period ended September 30, 2021.

Similarly, the EPS also dipped by 96% as it reported EPS of INR 0.34. This vast dip was due to CDMO – Sterile Injectables and Generics as the segment was impacted by the pricing pressure in the US market and challenges related to import.