JB Pharma net profit rises 26 percent to Rs 134 crore for Q3
JB Chemicals & Pharmaceuticals on Tuesday said its net profit rose 26 per cent to Rs 134 crore for the third quarter ended December 2023. The company reported a net profit of Rs 106 crore in the October-December period of the last fiscal.
Revenue increased to Rs 845 crore in the third quarter compared to Rs 793 crore in the year-ago period, JB Pharma said in a statement.
Commenting on the financial results, Mr. Nikhil Chopra, CEO and Wholetime Director, JB Pharma mentioned, “Our focus on growing the domestic business ahead of the market continues, as reflected in the Q3 performance. The business once again stands out in this quarter. For CY 2023, we are the fastest growing company within IPM amongst the top 25 pharma companies. We are excited about our recent Ophthalmology foray which has brought some of the biggest brands in that area into the JB family."
"The ophthalmology segment holds great promise as we expect this market to grow in mid-teens and consistently outperform IPM growth. In the international division, the formulations business is stable. Our order book for the CDMO business is looking good for forthcoming quarters. Our approach to developing progressive portfolios is on track, resulting in a positive impact for the exports branded generics business,” he added.
Read also: JB Pharma enters Opthalmology space, signs Rs 1,089 crore deal with Novartis for 10 brands
Established in 1976, J.B. Pharma is a pharmaceutical company headquartered in Mumbai, India. Besides India presence, which accounts for majority of its revenue, its other two home markets are Russia and South Africa. The company exports its finished formulations to over 40 countries including the USA. Besides supplying branded generic formulations to several countries, it also manufactures medicated lozenges. It has eight state of the art manufacturing facilities in India including a dedicated manufacturing facility for lozenges. The manufacturing facilities are certified by leading regulators across the world
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