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JB Pharma Q1 Results: Net profit jumps 25% YoY to Rs 177 crore - StuffsEarth
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August 8, 2024 JB Pharma reported a 25% year-on-year (YoY) jump in net profit to Rs 177 crore for the April-June quarter of FY25, led by growth momentum in domestic branded formulation business.
The drug maker had reported a net profit of Rs 142 crore in the year-ago period.
Revenue for the quarter rose 12% YoY to Rs 1004 crore.
The Mumbai-based company reported operating earnings before interest, taxes, depreciation and amortisation (EBITDA) at Rs 292 crore, up from Rs 243 crore in the year-ago period.
The operating EBITDA margin improved 190 basis points YoY to 29%.Domestic formulations business reported 22% YoY growth to Rs 595 crore in Q1FY25 led by the recently added ophthalmology portfolio.Excluding the ophthalmology portfolio, domestic business registered YoY growth of 13%.JB Pharma gained a rank to 21 in Indian pharmaceutical market (IPM) as per for the year ended June’24, as per IQVIA data. As per IQVIA June 2024 data, JB Pharma outperformed IPM and clocked YoY growth of 10% compared to IPM growth of 7.6%. For the first time, probiotic brand Sporlac crossed INR 100 crores, the company said.
JB Pharma has entered into an agreement in December last year with Swiss multi international giant Novartis to acquire a portfolio of 15 ophthalmology drugs for Rs 964 crore. The acquisition will take effect from January 2027, leading up to this JB Pharma will pay Rs 125 crore to Novartis to license the same drug portfolio for the Indian market.
International business grew 0.5% at Rs 409 crore. The company said revenue from international business impacted by muted contract development manufacturing organisation (CDMO) business due to seasonality and strategic choices made in South Africa, where it is transitioning from
Contract development manufacturing organisation (CDMO) business crossed Rs 106 crore revenue in Q1FY25. JB Pharma is one of the world’s largest manufacturers of lozenges.
“We have reached a new milestone of Rs 1,000 crores in quarterly sales for the first time during any quarter, with improvement across all parameters — revenue, gross profit, operating profit and operating profit margin,” said Nikhil Chopra, CEO and wholetime director, JB Pharma.
“We expect the international business including CDMO business to pick-up in the second half of the financial year..we are confident about meeting our operating and strategic goals for the year and remain focused on making the organisation progressive and future ready,” Chopra added.
JB Pharma forecasts its revenues to grow 12-14% and the earnings before interest, tax, depreciation and ammortisation (EBITDA) margins by 27-28% in FY25
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