JB Chemicals & Pharmaceuticals Records 25% Profit Boost in Q1

JB Chemicals & Pharmaceuticals reported a 25% year-on-year increase in net profit, reaching Rs 177 crore for Q1 ended June 30, 2024. The revenue surged to Rs 1,010 crore, a new milestone, driven by strong domestic and international business performance. Shares rose by 1.53% to Rs 1,947.30 on BSE.

JB Chemicals & Pharmaceuticals announced a 25% year-on-year rise in net profit to Rs 177 crore for the first quarter ended June 30, 2024.

In the same period last year, the company had reported a net profit of Rs 142 crore. Revenue for Q1 increased to Rs 1,010 crore from Rs 902 crore, according to a regulatory filing.

CEO and Wholetime Director, Nikhil Chopra, mentioned that the organization has surpassed Rs 1,000 crore in quarterly sales for the first time, with improvements across revenue, gross profit, and operating margins.

Chopra highlighted the strong domestic business performance, noting that major brands showed market-beating growth. He also projected that the international and CDMO business will gain momentum in the second half of the fiscal year.

Shares of JB Pharma closed 1.53% higher at Rs 1,947.30 on the BSE.