JB Pharma on Friday reported a 13% year-on-year (YoY) rise in net profit to Rs 111 crore in the second quarter that ended September 30, led by sustained growth in the domestic formulation and international business.
The company reported Rs 98 crore net profit during the corresponding quarter of the previous year.
Revenues rose 36% YoY to Rs 809 crore in Q2FY23, compared to Rs 593 crore in Q2FY22.
Earnings before interest, depreciation and taxes (EBITDA) increased by 44% to Rs 202 crores. The EBITDA margins expanded 140 basis points YoY to 25% in Q2FY23.
Sales from the domestic formulation business rose 45% YoY to Rs 434 as higher sales of existing brands and significant demand acceleration in acquired brands like Sporolac (probiotic) and Azmarda (for treating heart failure).
Sporolac grew 50% in sales, while Azmarda rose by 46% during Q2FY23.
JB grew by 19% higher than the Indian pharmaceutical market growth at 6.6% as per IQVIA for the year ended September 2022.
The international business grew 28% YoY to Rs 375 crore led by higher contract manufacturing revenues and API sales.
“Our strategic focus on key brands, segments and geographies is resulting in consistent, sustained revenue growth,” said Nikhil Chopra, CEO of JB Pharma.
“And this growth, along with productivity improvement and cost optimization initiatives, is creating strong operating leverage which is enabling us to maintain our margins in an inflationary environment with supply chain challenges,” he added.
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