BackJB Pharma’s revenue surges 30% in Q1, PAT declines
JB Pharma’s domestic formulations business grew at 34% in Q1, while international business revenue rose 28%
PremiumNew Delhi: JB Pharmaceuticals recorded a revenue of ₹785 crores in the quarter ended June, up 30% over the corresponding quarter of last year. Profit after tax, however, declined to ₹105 crore in Q1FY23 as compared to ₹119 crores on account of finance costs and acquisition of brands.
The Mumbai-based company’s operating Ebitda or earnings before interest, taxes, depreciation and amortization increased 16% to ₹190 crore.
“Our operating performance in FY23 started on a strong note. We continued the momentum in our domestic business, registering market beating growth and achieving a new milestone in quarterly run-rate revenue of over ₹400 crores. Integration of Sanzyme’s product range and Azmarda have progressed as per plan. We also completed the acquisition of a portfolio of paediatric brands which will enable us to offer a more comprehensive product basket to pediatricians, helping us to serve them better. International business also saw strong growth with a robust order pipeline and out-performance in the CMO segment," said Nikhil Chopra, CEO, JB Pharma.
The company recorded robust revenue growth despite a challenging operating environment, while the organic growth was pegged at around 20%, it said.
Domestic formulations business continued its strong performance, growing at 34% to ₹418 crores. International business revenues grew by 28% to ₹366 crores. All the three businesses --exports formulations, CMO and API business-- performed well in the quarter, the company said.
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