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JB Chemicals & Pharmaceuticals Limited (JB), one of the fastest-growing pharmaceutical companies in India, announced its financial results for the third quarter ended December 31, 2021.For the third quarter ended December 31 2021, the company recorded revenue of INR 601 crores compared to INR 548 crores, registering a growth of 10 per cent over the corresponding quarter of the previous financial year. Comparing Q3 FY22 versus Q3 FY21 shows underlying revenue growth for Q3 FY22 was 23 per cent (After excluding revenue deferred to Q3 FY21 from Q2 FY21), and operating EBITDA* (Earnings Before Interest Depreciation and Taxes) were conservative at INR 153 crores as compared to INR 171 crores. Profit after Tax stood at INR 84 crores compared to INR 154 crores attributed to one-off income due to trademark sale in Q3 FY21 (~ INR 34 crores), higher treasury income in Q3 FY21, revenue deferment to Q3 FY21 and non-Cash ESOP charge in Q3 FY22.Commenting on financial results, Nikhil Chopra, CEO and Wholetime Director, said, "Our performance in the third quarter reflects a strong business momentum in a macroeconomic environment that has continued to be challenging. Revenue growth in India saw positive traction from our renewed Go-To-Market model and product introductions resulting in JB maintaining its position as the fastest-growing company among the Top-30 in the industry^. Further, major parts of our international business, including CMO, witnessed a gradual revival of demand. Our margins reflect the significant increase in raw materials costs and persistent supply chain-related challenges. Going forward, we will maintain focus on driving topline growth, cost optimization and organizational efficiencies." He further added, "We see multiple levers for outperformance - leveraging our existing Go-To-Market model strength, maximizing new introductions & lifecycle management opportunities and strengthening our international markets through portfolio augmentation. The acquisition of the brand portfolio from Sanzyme will further strengthen our domestic business and improve our market position. All these initiatives should translate into enhanced long-term value for all our stakeholders."^ As per IQVIA MAT Dec 21 dataFinancial Performance - 9M FY22 vs 9M FY21For the nine months of the financial year 2021-22, the company recorded revenue of INR 1800 crores compared to INR 1514 crores, registering a growth of 19 per cent. Operating EBITDA* (Earnings Before Interest Depreciation and Taxes) increased by 5 per cent to INR 457 crores compared to INR 437 crores. Adjusted EBITDA** increased by 8 per cent to INR 471 crores. Profit after Tax stood at INR 301 crores compared to INR 348 crores, registering a decline of 13 per cent.*Operating EBITDA is after excluding non-cash ESOP Charge**Adjusted EBITDA after excluding non-cash ESOP Charge and one-time non-recurring expenseRevenue momentum remained strong despite the challenging operating environment in the third quarter. Excluding the revenue, which got deferred to Q3 FY21 from Q2 FY21 in the previous financial year, the sales growth for Q3 FY22 was 23 per cent. The Gross Margin profile remains steady at 66 per cent in Q3 FY22. Significant inflation witnessed in API prices, managed through cost optimization initiatives and price increases. Operating costs are now at normalized levels, excluding ESOP charge, employee benefits expense increased by 11 per cent. Other expenditures witnessed a sharp increase in Q3 FY22, led by a significant escalation in logistics/freight costs and a substantial increase in Power & Fuel costs.Domestic Formulations business continues its good performance growing at 20 per cent in Q3 FY22 vs Q3 FY21. As per IQVIA, JB was the fastest-growing company among the top 30 companies for CY 2021, and as per MAT Dec 2021, JB grew at 27 per cent vs market growth of 18 per cent. Re-aligned Go-To-Market model continues to deliver positive results w.r.t. productivity improvement and new introductions. New Products contributed 4.2 per cent to Domestic sales in Q3 FY22 and 4 per cent for 9M FY22. During Q3 FY22, the Domestic Formulations business launched 12 new products, including Molnupiravir, Cilacar TM, Azovas-T and Pirfenidone. Cost pressure persists on raw material and packing material; this is expected to continue in the medium-term.International business revenue grew at 3 per cent in Q3 FY22 vs Q3 FY21, showing sequential improvement in international business, and underlying growth for Q3 FY22 is higher than the reported number due to deferment of revenues from Q2 FY21 to Q3 FY21. International business further witnessed steady revival except for the US business. South Africa continues to record growth in both public and private markets. Russia/CIS region delivered strong growth for Q3 FY 22. CMO business performed well due to demand revival in key markets. Supply chain disruptions and higher freight costs remain a challenge, as freight costs increased significantly for all key markets.This story is provided by PNN.will not be responsible in any way for the content of this article. (ANI/PNN)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Business :JB Chemicals & Pharmaceuticals Limited (JB) reports revenue growth of 10 per cent to INR 601 crores in Q3 FY22

JB Chemicals & Pharmaceuticals Limited (JB), one of the fastest-growing pharmaceutical companies in India, announced its financial results for the third quarter ended December 31, 2021. ...