JB Chemicals drops after weak Q3 outcome

JB Chemicals & Pharmaceuticals lost 3.35% to Rs 125.60 at 12:31 IST on BSE after the company reported net loss of Rs 6.47 crore in Q3 December 2013 as compared to net profit of Rs 21.87 crore in Q3 December 2012.

The Q3 result was announced after trading hours on Tuesday, 11 February 2014.

Meanwhile, the S&P BSE Sensex was up 115.22 points or 0.57% at 20,478.59

On BSE, so far 1.51 lakh shares were traded in the counter as against average daily volume of 86,058 shares in the past one quarter.

The stock hit a high of Rs 129.50 and a low Rs 119.15 so far during the day. The stock had hit a 52-week low of Rs 70.30 on 26 March 2013. The stock had hit a 52-week high of Rs 139.25 on 8 January 2014.

The stock had outperformed the market over the past one month till 11 February 2014, rising 0.04% compared with the Sensex's 1.9% fall. The scrip had also outperformed the market in past one quarter, jumping 20.77% as against Sensex's 0.62% fall.

The small-cap company has equity capital of Rs 16.95 crore. Face value per share is Rs 2.

JB Chemicals & Pharmaceuticals (JBCPL)'s net sales rose 17.25% to Rs 234.22 crore in Q3 December 2013 over Q3 December 2012.

JBCPL's net profit in Q3 December 2013 was hit mainly on account of an exceptional item of one-time loss of Rs 64.50 crore due to revision of sale price of Russia-CIS OTC business undertaking. Profit after tax without exceptional/non-recurring items rose 38.18% to Rs 30.22 crore in Q3 December 2013 over Q3 December 2012.

JBCPL is one of the India's leading pharmaceutical companies. The company manufactures & markets a diverse range of pharmaceutical formulations, herbal remedies and APIs. JBCPL exports to many countries worldwide with a strong presence in Russia, Ukraine, CIS countries and South Africa. The company continues to invest in growing its share in the regulated markets in USA, Europe and Australia.

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