Jubilant Pharmova shares tumble over 11% as Q4 net loss widens sequentially to Rs 98 crore

Jubilant Pharmova’s quarterly net loss widened to INR 98 crore in the March quarter of FY23 from a loss of INR 15.67 crore in the previous quarter. The firm posted a loss compared to a profit of INR 59.55 crore the previous year. The decline in profitability was due to a significant increase in total expenses in the quarter, which reached INR 1,785.57 crore. Despite the net loss, the board of directors declared a dividend of INR 5 per share for the fiscal year FY23. At 10.55 am, the stock was trading 7.4% lower at INR 332.1 on BSE.