Jubilant Pharmova arm sees tax adjustment cut to ₹42 crore from ₹108 crore

Drug firm Jubilant Pharmova Ltd on Wednesday (June 24) said its wholly owned step-down subsidiary Jubilant Generics Ltd (JGL) has received an order from the Income Tax Department in the matter relating to Assessment Year 2023–24.The company said Jubilant Generics had filed a rectification application in respect of income assessed by the Income Tax Department. Following the rectification, tax adjustments have been reduced from ₹107.89 crore to ₹42.41 crore.

The order was received on June 23, 2026, at 10:17 PM (IST). Jubilant Pharmova stated that the appeal on merits is being pursued separately before the Commissioner of Income Tax (Appeals).ALSO READ | Jubilant Pharmova Q2 profit up 17%, margin improves; Radiopharma, CDMO units drive growth

According to the disclosure, Jubilant Generics has received relief from the relevant Transfer Pricing Officer, which has restored tax losses of ₹65.48 crore.

Fourth Quarter ResultsThe company posted a 23% year-on-year decline in consolidated net profit at ₹119 crore for the March quarter, compared with ₹154 crore in the corresponding period last year. Revenue from operations, however, rose 18.8% YoY to ₹2,290 crore from ₹1,928 crore, supported by healthy growth across business segments.

EBITDA declined marginally by 1.6% to ₹339.3 crore from ₹345 crore a year ago, while EBITDA margin contracted sharply to 14.8% from 17.9%, reflecting higher operating costs and pressure on profitability.

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The board of directors recommended a final dividend of ₹5 per equity share of face value Re 1 each for FY26, translating into a 500% payout. The company has fixed July 24, 2026, as the record date for determining shareholder eligibility for the dividend payment. Subject to shareholder approval at the annual general meeting, the dividend will be paid within 30 days of the AGM.

Jubilant Pharmova operates across pharmaceuticals, contract research and development, radiopharma, allergy therapy and drug discovery solutions, with a presence in both domestic and international markets.

Shares of Jubilant Pharmova Ltd ended at ₹973.10, down by ₹0.15, or 0.015%, on the BSE.

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