New Delhi: JB Pharma, one of the fastest growing pharmaceutical companies in India, announced a record revenue growth of 32 per cent to Rs 793 crore in Q3 FY23. Operating EBITDA (Earnings before interest, depreciation and tax) grew by 26 per cent to Rs 193 crore as compared to Rs. 153 crores. Profit after tax stood at Rs.106 crore as against Rs.84 crore, registering a growth of 26 percent.
Commenting on the financial results, Nikhil Chopra, CEO and Whole Time Director, JB Pharma said, “JB continued its growth journey by delivering strong financial performance in the quarter at a faster-than-expected pace.Also Read: Wealth Creation Plan: Invest In These SBI Mutual Fund Schemes To Get Strong Profits- Check Return Calculator Here,
Our inorganic strategy is built around growing the India business and increasing share in the chronic segment. During the quarter, we acquired Razel, a leading brand for lipid-lowering. This further strengthens our legacy presence, as we enter the ‘statins’ category – the largest segment in cardiology. ,Also read: PM-KISAN: These farmers are not eligible to get the benefits of the scheme- Check details,
Our strong prescriber base and existing chronic teams will help grow the brand and drive operating leverage.
We are equally cautious about the inflationary environment and continue to build on productivity and cost optimization initiatives to enable us to maintain our operating margins,” Chopra said.
For the three quarters or nine months of the financial year 2022-23, the company reported a revenue of Rs 2387 crore as compared to Rs 1800 crore for the same period last year, registering a growth of 33 per cent.
Operating EBITDA (earnings before interest, depreciation and taxes) grew by 28 per cent to Rs 584 crore as compared to Rs 457 crore. Profit after tax was Rs.322 crore as against Rs.301 crore.
As per IQVIA MAT Dec`22 data, JB Pharma continues to be the fastest growing company in the top 25 in the industry, growing at over 19.5 percent as compared to IPM growth of 6.5 percent. JB reports revenue growth of 32 per cent in Q3 FY23 and 33 per cent for 9 months of FY23.
The domestic business continued to record over INR 400 crore in revenue for the third consecutive quarter, outpacing industry growth, while the international business grew by 23 per cent to INR 386 crore and 26 per cent to INR 1127 crore in Q3 FY23. 9 months of FY23.