Latest News | JB Pharma Profit Rises 14 Pc to Rs 202 Cr in Q1

New Delhi, Jul 30 (PTI) JB Chemicals & Pharmaceuticals Ltd on Wednesday reported a 14 per cent rise in net profit to Rs 202 crore in the June quarter.

The company had posted a net profit of Rs 177 crore in the corresponding period of the previous fiscal year, JB Chemicals & Pharmaceuticals (JB Pharma) said in a regulatory filing.

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Revenue in the first quarter stood at Rs 1,094 crore as against Rs 1,004 crore in the same period a year ago, up 9 per cent, it added.

"The domestic business recorded approximately 14 per cent value growth. This was driven by acute and chronic segments, including our ophthalmology portfolio. Our major brands & their franchises are also performing well," JB Pharma CEO and Wholetime Director, Nikhil Chopra said.

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He further said, "The CDMO (contract development and manufacturing organisation) business momentum is likely to sustain in coming quarters."

The company said its domestic formulations business recorded revenue of Rs 678 crore as against Rs 595 crore in the first quarter last fiscal year, up 14 per cent driven by good growth in acute including opthal portfolio and the chronic portfolio.

International business revenue declined marginally to Rs 283 crore in the first quarter as compared to Rs 290 crore in the year-ago period, it added.

Going forward, Chopra said, "We will maintain focus on driving topline growth, cost optimisation and organisational efficiencies. I am confident that the organisation will continue to perform well, with our domestic and CDMO segments leading the way on growth and profitability."

(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)