JB Chemicals & Pharmaceuticals PAT grows 35% to Rs 142 crore in Q1

JB Chemicals & Pharmaceuticals Ltd on Wednesday reported a 35 per cent increase in profit after tax at Rs 142 crore in the first quarter ended June 30, 2023.

The company had posted a Profit After Tax (PAT) of Rs 105 crore in the same quarter last fiscal, JB Chemicals & Pharmaceuticals (JB Pharma) said in a statement.

Revenue in the quarter under review stood at Rs 896 crore as against Rs 785 crore in the year-ago period, a growth of 14 per cent, it added.

Domestic formulations business stood at Rs 489 crore, a growth of 17 per cent.

Revenue from international business crossed the Rs 400 crore mark for the first time in a quarter, the company said.

"Our domestic business continued its growth trajectory through strong momentum in our chronic portfolio and acquired assets. Our big brands, especially in the chronic segment, continue to outpace the market and have reached new milestones," JB Pharma CEO and Whole Time Director Nikhil Chopra said.

The CDMO (Contract Development and Manufacturing Organisation) business scaled further during the quarter and the healthy momentum continues for this segment too, he added.