Operating EBITDA increased by 21% to INR 181 crores in Q4 FY23
JB Chemicals & Pharmaceuticals (JB Pharma), one of the fastest growing pharmaceutical companies in India, announced its financial results for the fourth quarter and year ended 31st March, 2022.
The company recorded revenue of INR 762 crores in the fourth quarter ended 31st March 2023 vs Rs. 625 crores in Q4 FY22 registering growth of 22%. Operating EBITDA* (Earnings Before Interest Depreciation and Taxes) increased by 21% to Rs. 181 crores as compared to INR 149 crores. Profit after Tax stood at INR 88 crores as compared to Rs. 85 crores registering growth of 4%.
Commenting on financial results, Nikhil Chopra, CEO and Wholetime Director, JB Pharma mentioned, “JB continued its growth journey in the fourth quarter, thereby ending FY23 with strong performance across business segments. Our market-beating performance in India is pivoted around big brands becoming bigger, and significant demand acceleration in the acquired portfolio. Each of our top 5 brands have ascended through the ranks. Further, Azmarda entered IQVIA’s Top 300 brands list and other acquired business in probiotics and pediatric segment have witnessed rank and market share gain.
Our performance in the International business has seen commendable gains amidst a challenging business environment. International formulations clocked mid-teens growth for the quarter. We continue to witness increased interest from existing and new clients in the CMO business especially in the lozenges segment. We expect to build on this growth in the long term by expanding our pipeline for international business.
While we are cautious of the inflationary environment our efforts are aimed at executing well, with productivity and cost optimization as drivers, in order to deliver improved operating margins”
For the financial year 2022-23, the company recorded revenue of Rs. 3,149 crores as compared to Rs. 2,424 crores, registering growth of 30%. Operating EBITDA (Earnings Before Interest Depreciation and Taxes) registered growth of 26% to Rs. 765 crores as compared to Rs. 605 crores. Profit after Tax was Rs. 410 crores as compared to INR 386 crores recording growth of 6%.
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