JB Pharma net profit rises 36% YoY in Sep quarter

livemint.com:

₹151 crore, led by healthy growth in domestic and international business. Revenue increased 9% YoY to ₹882 crore in the fiscal second quarter (Q2FY24). Earnings before interest, tax, depreciation, and amortization (Ebitda) for the quarter stood at ₹251 crore, a 24% improvement YoY, with an Ebitda margin of 28.5%., the company said in a notification to the exchanges.

Employee costs rose 9% to ₹148 crore, while cash and cash equivalent stood at ₹91.62 crore as of 30 September. The company has proposed a capital expenditure of ₹145 crore for FY24. “…Our transformed go-to-market framework is driving gains in market share and improvement in our rankings in IPM.

Our acquired portfolio has not only helped us increase our chronic segment presence and market rankings. But it is also beginning to positively impact our operating margins," said Nikhil Chopra, CEO, JB Pharma. “Our domestic business showed strong resilience even during a period when the acute segment had relatively softer demand.

International business has performed well, with sustained traction in our CDMO segment. International formulations have shown strong growth outside South Africa." Revenues from domestic business grew 11% to ₹481 crore in Q2, largely led by the performance in the chronic segment even as acute portfolio suffered from softer demand, it added. As per IQVIA data for H1, JB Pharma was the fastest-growing company among the top 25 in the chronic segment recording a growth of 18% YoY.