Latest News | JB Chemicals Q3 PAT Drops 45 Pc to Rs 84 Cr

New Delhi, Feb 14 (PTI) JB Chemicals & Pharmaceuticals Ltd on Monday reported a 45 per cent decline in consolidated profit after tax (PAT) at Rs 84.12 crore for the third quarter ended December 2021.

The company had posted a consolidated PAT of Rs 154.28 crore in the same period last fiscal, JB Chemicals & Pharmaceuticals said in a regulatory filing.

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In the third quarter last fiscal, the company had a one off income of Rs 34 crore due to trademark sale, besides higher treasury income and revenue deferment to Q3 FY21, while it incurred a non-cash ESOP charge in the third quarter of this financial year, which resulted in the decline in PAT, it added.

Consolidated revenue from operations in the third quarter FY22 were at Rs 600.66 crore as against Rs 548.22 crore in the year-ago quarter, it added.

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Total expenses were higher at Rs 490.86 crore in the third quarter as against Rs 395.71 crore earlier.

JB Chemicals & Pharmaceuticals CEO and Whole-time Director Nikhil Chopra said, "Our performance in the third quarter reflects a strong business momentum in a macroeconomic environment that has continued to be challenging."

Revenue growth in India saw positive traction from a renewed go-to-market model and product introductions resulting in the company maintaining its position as the fastest growing firm among the top-30 in the industry, he added.

Going forward, he said, "We will maintain focus on driving topline growth, cost optimisation and organisational efficiencies. We see multiple levers for outperformance -- leveraging our existing go-to-market model strength; maximising new introductions and lifecycle management opportunities and strengthening our international markets through portfolio augmentation."

The acquisition of the brand portfolio from Sanzyme will further strengthen the company's domestic business and improve its market position, Chopra said.

(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)