Jubilant Life Sciences’ CFO Alok Vaish resigns on 52% fall in profits YoY

Jubilant Life Sciences Ltd. announced on Saturday that its Chief Financial Officer (CFO), Mr. Alok Vaish has resigned from the post. He will continue office till September 11 before taking leave. The company posted a profit of 88 crore in Q1 FY2021, a fall of 52% YoY.

Jubilant Life Sciences Ltd. announced on Saturday that its Chief Financial Officer (CFO), Mr. Alok Vaish has resigned from the post. He will continue office till September 11 before taking leave.

Mr. Alok Vaish was the Chief Financial Officer and Key Managerial Personnel of the company. He has completed his MBA from University of Virginia Darden School of Business and has held the CFO position in Yatra Online Inc. previously.

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Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform that Mr. Alok Vaish, Chief Financial Officer and Key Managerial Personnel, has tendered his resignation from services of the Company which has been accepted by the Company. He shall continue in his current role until September 11, 2020. The company said in its BSE regulatory filing.

The Life Science Ingredients segment is engaged in specialty intermediates, nutritional products and life science chemicals through five manufacturing facilities in India. The drug discovery solutions business is served by Jubilant Biosys and the India branded pharmaceuticals business is an Indian venture with a range of pharmaceutical offerings for the domestic market, focusing primarily on products to treat medical conditions in the field of cardiology and diabetology.

The company posted a profit of 88 crore in Q1 FY2021, a fall of 52% YoY. On September 4th, the stock closed at Rs 832.00 on the NSE.