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JB Chemicals and Pharmaceuticals posted a 24.24 per cent year-on-year (Y-o-Y) increase in profit after tax (PAT) during the first quarter of the financial year 2024-25, concluding on June 30, reaching Rs 176.83 crore. JB’s revenue from operations increased by 12.07 per cent Y-o-Y to Rs 1,004.40 crore.
On a sequential basis, the company exhibited a 16.55 per cent increase in revenue with the PAT also growing by 40.17 per cent. The operating Ebitda (earnings before interest, tax, depreciation, and amortisation) margin rose 20 per cent Y-o-Y, reaching Rs 292 crore backed by cost optimisation and a favourable product mix.
Commenting on the results, Nikhil Chopra, CEO and whole-time director, JB Pharma mentioned, “We have reached a new milestone of Rs 1,000 crore in quarterly sales for the first time during any quarter, with improvement across all parameters — revenue, gross profit, operating profit and operating profit margin. Strong performance in the domestic business has continued, with each of the big brand franchises witnessing market-beating growth.”
They expect the international business, including the CDMO business, to pick up in the second half of the financial year.
Finance costs were reduced to Rs 6 crore from Rs 12 crore, and the gross debt decreased by Rs 249 crore during the quarter, bringing the total gross debt as of June 30, 2024, to Rs 108 crore. As a result, net profit improved by 25 per cent, reaching Rs 177 crore.
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JB Pharma's domestic business registered a 22 per cent Y-o-Y growth, driven by strong performance in specialty therapies. The company's market position strengthened as it climbed to the 21st rank in the Indian Pharmaceutical Market (IPM). Excluding the ophthalmology portfolio, the domestic business grew by 13 per cent Y-o-Y.
The international business, however, remained flat at Rs 409 crore due to the impact of a muted CDMO business and strategic decisions, particularly in South Africa.
