Jubilant Generics Tax Adjustment Reduced by ₹65.48 Cr

Jubilant Pharmova Ltd announced that its wholly owned step-down subsidiary, Jubilant Generics Limited (JGL), has received a Rectification Order from the Income Tax Department. This order pertains to the Assessment Year 2023-24. Following a rectification application by JGL, the total tax adjustments have been significantly reduced from ₹107.89 crore to ₹42.41 crore. This reduction represents a relief of ₹65.48 crore, effectively restoring tax losses for JGL. The company is separately pursuing an appeal on merit grounds before the CIT(A).