Latest News | JB Chemicals & Pharma Q2 PAT Up 36% at Rs 151 Cr

New Delhi, Nov 7 (PTI) JB Chemicals & Pharmaceuticals Ltd on Tuesday reported a 36 per cent rise in profit after tax at Rs 151 crore in the second quarter ended September 30, 2023.

The company had posted a profit after tax of Rs 111 crore in the second quarter of last fiscal, JB Chemicals & Pharmaceuticals said in a statement.

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Revenue in the quarter under review stood at Rs 882 crore as against Rs 809 crore in the corresponding period a year ago, it added.

"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," JB Chemicals & Pharmaceuticals CEO and Wholetime Director, Nikhil Chopra said.

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He said the company's transformed go-to-market framework is driving gains in market share with the acquired portfolio not only helping in increasing presence in chronic segment presence and market rankings but also beginning to positively impact operating margins.

"We have made significant progress in the cardiology segment. Our domestic business showed strong resilience," Chopra said.

On the international business, he said the vertical performed well with sustained traction in the contract development and manufacturing organisation (CDMO) segment.

"International formulations have shown strong growth outside South Africa, as we focus on being agile to market needs and scaling up with new launches in the medium and long term," Chopra added.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)