JB Chemicals surges 12%, hits record high on strong Q3 performance

The board has declared interim dividend of Rs 8.50 per equity share of face value of Rs 2 (425 per cent) for FY21

Shares of JB Chemicals & Pharmaceuticals, on Thursday, surged 12 per cent intra-day to Rs 1,213 on the BSE after reporting more-than-doubled net profit at Rs 154.30 for the December quarter (Q3FY21), on the back of strong operational performance. The company had profit of Rs 66.40 crore in the year-ago quarter. The stock surpassed its previous high of Rs 1,150, touched on September 21, 2020.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 90.8 per cent year on year (YoY) at Rs 171 crore, margin improved 1030 basis points (bps) to 31.2 per cent during the quarter, driven