JB Pharma has announced its financial results for the second quarter ended 30th September, 2022, registering YoY growth of 36 per cent in Q2 FY23 and 33 per cent in H1 FY23.
The company recorded revenue of Rs 809 crore as compared to Rs 593 crore, registering growth of 36 per cent. The operating Earnings Before Interest Depreciation and Taxes (EBITDA) increased by 44 per cent to Rs 202 crore as compared to Rs 140 crore. The Profit After Tax (PAT) stood at Rs 111 crore as compared to Rs 98 crore registering growth of 13 per cent, a statement from JB Pharma said.
It further said that domestic formulations business maintained its performance growing at 45 per cent in Q2 FY23 and 38 per cent in H1 FY23. Excluding sales from the acquired brands, growth was around mid-teens for Q2 and H1 FY23.
The half yearly financial results have also been outstanding, with the company recording revenue of Rs 1,594 crore as compared to Rs 1,199 crore last year, registering growth of 33 per cent. Operating EBITDA increased by 29 per cent to Rs 392 crore as compared to Rs 303 crore and PAT was Rs 216 crore as compared to Rs 217 crore.
The international business continued its momentum growing at 28 per cent to Rs 375 crore in Q2 FY23 with a sustained improvement in international business, where all three businesses viz. exports formulations, CMO and the API business performed well. The operating EBIDTA improved by 44 per cent in Q2 FY23 and 29 per cent in H1 FY23. Operating EBITDA margin was at 25 per cent in Q2 FY23 vs 23.6 per cent in Q2 FY22 leading to strong operating leverage. PAT growth led by strong EBITDA growth, partly impacted by lower treasury income, higher amortisation charges and higher finance costs.
The domestic business continued to register over Rs 400 crore revenue for the second consecutive quarter. Domestic business, excluding sales from acquired brands, grew at mid-teens, outpacing industry growth, and new products contributed 4.4 per cent to domestic sales for Q2 FY23.