JB Pharma reports strong Q3 performance

JB Pharma reported a net profit of Rs 106 crore in the October-December duration of the last fiscal.

Introduction:

JB Chemicals & Pharmaceuticals has announced its financial results for the third quarter ended December 2023, showcasing significant growth compared to the same period last fiscal year. 

The company reported a notable increase in net profit and revenue, driven by robust performance in both domestic and international segments.

Financial Highlights:

• Net profit rose by 26% to Rs 134 crore for the third quarter, compared to Rs 106 crore in the previous year.
• Revenue increased to Rs 845 crore, up from Rs 793 crore in the year-ago period.

Statement from CEO:

Nikhil Chopra, CEO and Wholetime Director of JB Pharma, highlighted the company’s focus on growing the domestic business ahead of the market, which contributed to the strong performance in the third quarter. 

Also read: Bombay Stock Exchange reports impressive Q3 performance

He also noted the stability of the international formulations business and emphasized the positive impact of progressive portfolio development on exports branded generics business.

Market Performance:

Shares of JB Chemicals & Pharmaceuticals settled 1.18% higher at Rs 1,724 apiece on the BSE, reflecting investor confidence in the company’s performance and prospects.

Conclusion:

JB Chemicals & Pharmaceuticals’ robust third-quarter performance underscores its resilience and growth trajectory amid a challenging business environment. 

With a strong focus on both domestic and international segments, coupled with strategic portfolio development initiatives, the company remains well-positioned for continued success in the pharmaceutical industry.

Source – Moneycontrol