JB Pharma Reports Strong Growth In Q2 FY24 With Revenues Of Rs 882 Crores

JB Pharma has announced its financial results for the quarter ending September 30, 2023, the company informed in a press statement on Tuesday.

In Q2 FY24, JB Pharma reported revenues of Rs 882 crores, representing a 9 per cent growth compared to Rs 809 crores in Q2 FY23. The operating EBITDA (Earnings Before Interest Depreciation and Taxes) improved by 24 per cent to Rs 251 crore, and profit after taxes showed strong growth of 36 per cent to Rs151 crore compared to Rs 111 crore in Q2 FY23.

Nikhil Chopra, JB Pharma's CEO and Wholetime Director, said, “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."

For the first half of the financial year 2023-24, JB Pharma recorded revenues of Rs 1,778 crores, reflecting a 12 per cent growth from Rs 1,594 crore in H1 FY23. Operating EBITDA increased by 26 per cent to Rs  494 crore, and profit after tax showed strong growth of 36 per cent to  Rs 293 crore compared to Rs 216 crore in H1 FY23.

In terms of sales performance, the domestic formulations business reported an 11 per cent growth in Q2 FY24 and a 14 per cent growth in H1 FY24. The international business recorded a 7 per cent growth in Q2 FY24 and a 9 per cent growth in H1 FY24. JB Pharma's CDMO business continued to perform well with revenues of INR 115 crores in Q2 FY24.