Mumbai-based pharmaceutical company JB Chemicals & Pharmaceutical (JBCPL) has posted an increase of 33 per cent in net profit at Rs 14.24 crore for the quarter ended December 31, 2008 as against Rs 10.67 crore reported in the same quarter a year ago.
Net sales of the company rose to Rs 219.97 crore for the reporting quarter, up 58 per cent as compared to Rs 139 crore posted in the corresponding quarter in the previous financial year.
"The growth in sales during the quarter was led mainly by higher exports consequent to focused and aggressive marketing and promotional efforts undertaken in key export market, while the company registered better performance on profit front due to better product mix, disciplined inventory and receivables management resulting into lower interest cost and continued cost control measures", stated the company in an announcement posted on the Bombay Stock Exchange (BSE).
Share price of the company rose 6.44 per cent on the BSE and was at Rs 38.85 per share as against its yesterday's closing price of Rs 36.50 per share.