Indian drugmaker J B Chemicals posts Q3 profit rise on strong demand

J B Chemicals and Pharmaceuticals

06/02/2024 11:13

BENGALURU, Feb 6 (Reuters) - India's J B Chemicals and
Pharmaceuticals  JBCH.NS  reported its sixth straight quarter of
profit rise on Tuesday, led by strong demand in its domestic and
international markets. 
    The company's consolidated net profit was 1.34 billion
rupees (nearly $16 million) for the quarter ended Dec. 31,
compared with 1.06 billion rupees a year earlier. 
    The Mumbai-based company's sales have benefitted from a
series of acquisitions involving companies with portfolios of
cardiovascular and ophthalmology drugs. Moreover, sales were
boosted by new product launches.
    J B Chemicals, known for manufacturing generic drugs and
herbal lozenges used to soothe irritated throats, said its
revenue from operations rose 6.6% to 8.45 billion rupees.
    Revenue growth was fuelled by a 14% increase in its domestic
business, its largest market, and a 6% rise in overseas
business, including the Russian and South African markets. 
    The company did not give a region-wise revenue break up. 
    J B Chemicals' results follow those of larger generic
drugmakers such as Cipla  CIPL.NS , Dr Reddy's  REDY.NS  and Sun
Pharma  SUN.NS , all of which beat their third-quarter profit
estimates on robust U.S. sales. 

($1 = 83.0429 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru; Editing by Dhanya
Ann Thoppil)
 ((Kashish.Tandon@thomsonreuters.com;))