Announced Tue, 30 Jun · 18:41 IST
Subsidiary gets tax order disallowing Rs 53.37 cr losses
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JUBLPHARMA · price
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AI summary
Jubilant Biosys, a wholly-owned subsidiary of Jubilant Pharmova, received a rectification order from the Noida Income Tax Assessing Officer for Assessment Year 2019-20 (FY 2018-19) disallowing brought forward losses of Rs 53.37 crores. The company will appeal before the National Faceless Appeal Centre (NFAC) and expects to get relief, with no material adverse financial impact anticipated.
Likely market impact
Potential tax exposure of about Rs 53.37 cr; company plans appeal and expects relief, so near-term financial impact likely limited.