 "A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai")
JB Chemicals & Pharmaceuticals has surged 14% to Rs 357, also its lifetime high on the BSE, after the company reported a strong 26% year on year (YoY) jump in consolidated net profit at Rs 49.85 crore for the quarter ended June 30, 2016 (Q1FY17). The company had profit of Rs 39.63 crore in the year ago quarter.
The net sales for the quarter at Rs 301 crore were 7.75% higher against net sales of Rs 279 crore in the corresponding quarter in the previous year.
The company said its domestic formulation business recorded 12.52% YoY growth at Rs 129 crore, while the focus products group achieved growth of 16%.
The ebitda (earnings before interest, taxes, depreciation and amortisation) margin improved 525 basis points at 22.8% in Q1FY17, up from 17.55% in the previous year quarter.
At 02:18 pm, the stock was up 13% at Rs 353 on the BSE, as compared to 0.37% decline in the S&P BSE Sensex. The trading volumes on the counter jumped an over 15-fold with a combined 3.99 million shares changed on the BSE and NSE so far.
The net sales for the quarter at Rs 301 crore were 7.75% higher against net sales of Rs 279 crore in the corresponding quarter in the previous year.
The company said its domestic formulation business recorded 12.52% YoY growth at Rs 129 crore, while the focus products group achieved growth of 16%.
The ebitda (earnings before interest, taxes, depreciation and amortisation) margin improved 525 basis points at 22.8% in Q1FY17, up from 17.55% in the previous year quarter.
At 02:18 pm, the stock was up 13% at Rs 353 on the BSE, as compared to 0.37% decline in the S&P BSE Sensex. The trading volumes on the counter jumped an over 15-fold with a combined 3.99 million shares changed on the BSE and NSE so far.
