JB Pharma’s Q3 FY23 revenues rose 32% to INR 793 crores

Mumbai : With a 32% increase to Rs. 793 crore in Q3 FY23, JB Pharma, one of India’s fastest-growing pharmaceutical companies, reported record revenue.

Earnings before interest, depreciation, and taxes (operating EBITDA) grew by 26%, from Rs. 153 crore to Rs. 193 crore. The company’s taxable profit increased by 26 percent, from Rs. 84 crore to Rs. 106 crore.

Mr. Nikhil Chopra, CEO and Wholetime Director of JB Pharma, made the following statement about the company’s financial results: “JB continues its growth journey delivering strong financial performance in the quarter.” In addition to our organic business outperforming the market, the inorganic portion of our portfolio has been adding to the positive trends with greater momentum than was expected. The expansion of our operations in India and the acquisition of market share in the chronic disease area form the basis of our inorganic growth strategy. We bought the market-leading lipid-lowering brand Razel during the quarter. By expanding into the largest subspecialty of cardiology, statins, we are bolstering our already formidable long-term presence. Our established chronic teams and large pool of active prescribers will facilitate the expansion of the brand and the generation of operational leverage.

Other areas of international business have also seen healthy expansion alongside the CMO business. Chopra added, “We are equally cautious about the inflationary environment, and we are continuing to build on productivity and cost optimization initiatives to enable us to maintain our operating margins.”