JB Chemicals & Pharmaceuticals Profit Jumps By 35% In June Quarter

JB Chemicals & Pharmaceuticals announced its financial results for the quarter ended 30th June 2023 on Wednesday. For the first quarter of FY24 ended 30th June 2023, JB Pharma recorded revenue of Rs 896 crores growing 14 YoY from Rs 785 crores in the corresponding quarter. 

Operating EBITDA (Earnings before Interest Depreciation and Taxes) improved by 28 per cent YoY to Rs 243 crores against 190 crores recorded in the same quarter last year. Profit after Taxes registered a strong growth of 35 per cent YoY to Rs 142 crores against Rs 105 crores reported in the June quarter last year. 

The company's EBITDA margins also improved to 27.1 per cent in Q1FY24 versus 24.2 recorded in Q1FY23.

"EBITDA margins improved during the quarter on account of better business mix, increased efficiencies in sourcing, and higher volumes. The first quarter has seen a robust performance both in terms of topline and operating profit, and we remain positive about delivering on our business objectives. We will maintain our distinctive focus on India and the CDMO business while maintaining our efforts to control costs & increase efficiencies across the organisation,” said Nikhil Chopra, CEO and Wholetime Director, JB Pharma.

On Wednesday the company's stock rallied by 6.44 per cent ahead of the result day and closed at Rs 2,711 per scrip on BSE.