JB Chemicals & Pharmaceuticals Ltd. announced its financial results for the quarter ended 30^th June, 2023. For the first quarter of FY24 ended June 30, 2023, JB Pharma recorded revenue of INR 896 crores growing 14 percent from INR 785 crores in the corresponding quarter. Operating EBITDA improved 28 percent to INR 243 crores. Profit after Taxes registered a strong growth of 35 percent to INR 142 crores.

Commenting on financial results, Nikhil Chopra, CEO and Wholetime Director, JB Pharma mentioned, “JB Pharma delivered a good quarter driven by focused execution. Our domestic business continued its growth trajectory through strong momentum in our chronic portfolio and acquired assets. Our big brands, especially in chronic segment, continue to outpace the market and have reached new milestones. CDMO business scaled further during the quarter and the healthy momentum continues for this segment too.

EBITDA margins improved during the quarter on account of better business mix, increased efficiencies in sourcing, and higher volumes. The first quarter has seen a robust performance both in terms of topline and operating profit, and we remain positive about delivering on our business objectives. We will maintain our distinctive focus on India and the CDMO business, while maintaining our efforts to control costs & increase efficiencies across the organisation.”

The revenue from International business crossed INR 400 crores mark for the first time in a quarter. CDMO business continued its growth momentum recording revenue of INR 119 crores. Operating EBITDA increased by 28 percent to INR 243 crores and operating EBITDA margin for the quarter was 27.1%, an improvement of 290 bps. Gross Margins for the quarter was 65.4 percent vs 62.7 percent, an improvement of 270 bps. Other expenses increased by 11 percent to INR 205 crores.

As percentage to sales, other expenses improved by 100 bps. Depreciation includes amortization charge of INR 14 crores on account of acquired brands. PAT improved substantially by 35 percent to INR 142 crores vs INR 105 crores. Domestic business revenue for the quarter was INR 489 crores, recording growth of 17 percent.