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Consolidated profit before tax (PBT) surged 136% to Rs 208.46 crore in Q3 FY21 over Q3 FY20. J.B Chemicals said PBT for Q3 FY21 includes non-recurring income of Rs 34 crore related to sale of product registration, marketing authorization along with trademark. Current tax expense was sharply higher at Rs 49.68 crore in Q3 FY21 as compared to Rs 20.11 crore in Q3 FY20.
The company said operational and revenue momentum continued with strong contributions from Domestic formulations and International business. Domestic formulations maintained secular outperformance compared to IPM growth rates, driven by strength in chronic segments and expanding prescriber coverage.
Consolidated EBITDA advanced 90.8% to Rs 171 crore in Q3 FY21 from Rs 89.6 crore in Q3 FY20. EBITDA margin improved to 31.2% in Q3 FY21 from 20.9% in Q3 FY20. The company said margin performance continued to be encouraging, driven by growth and operating leverage.
Commenting on business outlook, Nikhil Chopra, CEO of J.B. Chemicals said, “Overall, the business continued to show encouraging momentum and registered a very healthy growth rate in Q3. India business continues to witness a positive trend in the chronic segment and we are among the fastest growing companies in IPM. Going forward, while our immediate focus will be to drive productivity enhancement opportunities within the India business along with a strong focus on cost optimization, over the medium to long term, we plan to scale up investments in R&D and other organizational enhancement initiatives to build a more forward-looking progressive portfolio and drive value for all our stakeholders.”
Meanwhile, the company has declared an interim dividend of Rs 8.5 per equity share.
JBCPL is committed to manufacturing a range of innovative specialty products that include various pharmaceutical dosage forms like tablets, injectable (vials, ampoules, form fill seal), creams & ointments, lozenges, herbal liquids and capsules.
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