J B Chemicals Pharmaceuticals rallied 3.63% to Rs 1,786.50 after the company reported 25.89% jump in consolidated net profit of Rs 133.57 crore in Q3 FY24 as compared to net profit of Rs 106.10 crore posted in Q3 FY23.
The company reported revenue of Rs 844.51 crore in Q3 FY24, registering a growth of 6.53% from Rs 792.71 crore in Q3 FY23.Profit before tax grew 30.28% to Rs 183.95 crore in Q3 FY24 from Rs 141.20 crore recorded in Q3 FY23.
EBITDA surged 22% to Rs 235 crore during the quarter from Rs 193 crore posted in same quarter last year.
EBITDA margin improved to 27.8% in Q3 FY24 as compared to 24.3% recorded in the corresponding quarter previous year.
On nine-month basis, the companys consolidated net profit grew 32.28% to Rs 426.47 crore on 9.84% increase in revenue from operations to Rs 2622.05 crore in 9M FY24 over 9M FY23.
Domestic business revenue was Rs 462 crore (up 14% YoY) while International business recorded revenue of Rs 383 crore (down 0.78% YoY) in Q3 FY24.
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Nikhil Chopra, CEO and wholetime director of JB Pharma said, Our focus on growing the domestic business ahead of the market continues, as reflected in the Q3 performance. The business once again stands out in this quarter. For CY 2023, we are the fastest growing company within IPM amongst the top 25 pharma companies. We are excited about our recent Ophthalmology foray which has brought some of the biggest brands in that area into the JB family. The ophthalmology segment holds great promise as we expect this market to grow in mid-teens and consistently outperform IPM growth.
In the international division, the formulations business is stable. Our order book for the CDMO business is looking good for forthcoming quarters. Our approach to developing progressive portfolios is on track, resulting in a positive impact for the exports branded generics business.
J B Chemicals & Pharmaceuticals is a pharmaceutical company and a leading player in the hypertension segment. Besides its strong India presence, which accounts for majority of its revenue, its other two home markets are Russia and South Africa. The company exports its finished formulations to over 40 countries including the USA.
The counter hit a life high of Rs 1,935 in todays intraday session.
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