JB Pharma on Thursday announced its financial results for the first quarter ended 30th June 2022. According to the company’s statement, for the first quarter ended 30th June 2022, the Company recorded revenue of Rs. 785 crores as compared to Rs. 606 crores, registering a growth of 30 percent over the corresponding quarter.
The company stated that operating Earnings Before Interest Depreciation and Taxes (EBITDA) increased by 16 percent to Rs. 190 crores as compared to Rs. 164 crores. Profit after Tax stood at INR 105 crores on account of higher treasury income in Q1FY 22.
“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 INR 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 paediatricians, helping us to serve them better. International business also saw strong growth with a robust order pipeline and out-performance in the CMO segment. With this start, I believe we have built good momentum for the year ahead and together with our continued focus on productivity enhancement and cost optimisation, we are confident of delivering profitable growth,” Nikhil Chopra, CEO and Wholetime Director, JB Pharma said in a statement.
Meanwhile, the pharma company recorded revenue growth of 30 percent despite a challenging operating environment, while organic growth was pegged at around 20 percent. Moreover, the Domestic Formulations business continued its strong performance growing at 34 percent to Rs. 418 Crores.
Additionally, international business revenues grew by a healthy 28 percent to INR 366 crores. According to the company, exports formulations, CMO, and API business performed well in the quarter. Operating EBITDA grew by 16 percent to INR 190 Crores while gross margins were at a healthy 62.7 percent v/s 64.2 percent, the company stated.