Q2 results: JB Chemicals & Pharma reports 36 percent rise in profit after tax at Rs 151 crore
New Delhi: JB Chemicals & Pharmaceuticals Ltd has reported a 36 per cent rise in profit after tax at Rs 151 crore in the second quarter ended September 30, 2023.
The company had posted a profit after tax of Rs 111 crore in the second quarter of last fiscal, JB Chemicals & Pharmaceuticals said in a statement.
Revenue in the quarter under review stood at Rs 882 crore as against Rs 809 crore in the corresponding period a year ago, it added.
'During Q2, the business delivered a healthy blend of domestic and international business growth, with expansion in domestic business led by our chronic segment and acquired portfolio,' JB Chemicals & Pharmaceuticals CEO and Wholetime Director, Nikhil Chopra said.
He said the company's transformed go-to-market framework is driving gains in market share with the acquired portfolio not only helping in increasing presence in chronic segment presence and market rankings but also beginning to positively impact operating margins.
'We have made significant progress in the cardiology segment. Our domestic business showed strong resilience,' Chopra said.
On the international business, he said the vertical performed well with sustained traction in the contract development and manufacturing organisation (CDMO) segment.
'International formulations have shown strong growth outside South Africa, as we focus on being agile to market needs and scaling up with new launches in the medium and long term,' Chopra added.
Read also: JB Pharma reports 35 percent increase in PAT at Rs 142 crore in Q1
Established in 1976, J.B. Pharma is a pharmaceutical company headquartered in India. Besides its strong 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 seven 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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