JB Chemicals & Pharmaceuticals Limited (JB), one of the fastest growing pharmaceutical companies in India, announced its financial results for the third quarter ended December 31, 2021.
For the third quarter, the company recorded revenue of Rs 601 crore as compared to Rs 548 crore, registering growth of 10 per cent over the corresponding quarter of the previous financial year.
Underlying revenue growth for Q3 FY22 was 23 per cent (After excluding revenue deferred to Q3 FY21 from Q2 FY21).
Operating EBITDA (Earnings Before Interest Depreciation and Taxes) decreased by 10.5 per cent to Rs 153 crore as compared to Rs 171 crore. Operating EBITDA growth impacted by revenue deferral in Q3 FY21.
Profit after Tax stood at Rs 84 crore as compared to Rs 154 crore attributed to one off income due to trademark sale in Q3 FY21 (Rs 34 crore), higher treasury income in Q3 FY21, revenue deferment to Q3 FY21 and non-Cash ESOP charge in Q3 FY22.
Commenting on financial results, Nikhil Chopra, CEO and Wholetime Director, JB said, "Our performance in the third quarter reflects a strong business momentum in a macroeconomic environment that has continued to be challenging. Revenue growth in India saw positive traction from our renewed Go-To-Market model and product introductions resulting in JB maintaining its position as the fastest growing company among the Top-30 in the industry."
"Further, major parts of our international business including CMO witnessed gradual demand revival. Our margins reflect the significant increase in raw materials costs and persistent supply chain-related challenges. Going forward, we will maintain focus on driving topline growth, cost optimization and organizational efficiencies," said Chopra.
He further added, "We see multiple levers for outperformance – leveraging our existing Go-To-Market model strength; maximising new introductions & lifecycle management opportunities and strengthening our international markets through portfolio augmentation. The acquisition of the brand portfolio from Sanzyme will further strengthen our domestic business and improve our market position. All these initiatives should translate into enhanced long-term value for all our stakeholders".
For the nine months of the financial year 2021-22, the company recorded revenue of Rs 1,800 crore as compared to Rs 1,514 crore, registering growth of 19 per cent. Operating EBITDA increased by 5 per cent to Rs 457 crore as compared to Rs 437 crore.
Adjusted EBITDA increased by 8 per cent to Rs 471 crore. Profit after tax stood at Rs 301 crore as compared to Rs 348 crore registering decline of 13 per cent.
(With inputs from IANS)
