JB Pharma Q1 Profit Surges 25% to Rs 177 cr
Aug 08, 2024 18:41
JB Chemicals & Pharmaceuticals reported a 25% year-on-year increase in net profit to Rs 177 crore in the first quarter ended June 30, 2024. The company's total income also grew to Rs 1,010 crore during the quarter.
New Delhi, Aug 8 (PTI) JB Chemicals & Pharmaceuticals on Thursday said its net profit increased 25 per cent year-on-year to Rs 177 crore in the first quarter ended June 30, 2024.
The drug firm had reported a net profit of Rs 142 crore in the April-June period last fiscal.
Total income increased to Rs 1,010 crore in the June quarter from Rs 902 crore in the year-ago period, JB Pharma said in a regulatory filing.
"Our overall performance in the first quarter has been robust. 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," CEO and Wholetime Director Nikhil Chopra stated.
Strong performance in the domestic business has continued, with each of the big brand franchises witnessing market-beating growth, he added.
"We expect the international business including CDMO business to pick up in the second half of the financial year. The good start in the first quarter augurs well for the balance of the fiscal year," Chopra said.
The company is confident about meeting its operating and strategic goals for the year and remains focused on making the organisation progressive and future ready, he added.
Shares of JB Pharma on Thursday ended 1.53 per cent up at Rs 1,947.30 apiece on the BSE.
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