J B Chemical posts muted Q2 numbers
DSIJ Intelligence / 18 Nov 2016
J.B. Chemical has announced its second quarter results today Friday, November 18, 2016 during the market hours. Company has posted a muted quarter on both top-line and bottom-line.
J.B. Chemical has announced its second quarter results today Friday, November 18, 2016 during the market hours. Company has posted a muted quarter on both top-line and bottom-line.
Sales for the quarter ending September 30 stand at Rs 293.12 crore as against Rs 284.94 crore, representing an increase of 2.87 per cent on a yearly basis. The nominal increase was due to lower exports by the company. However, operating margins for the quarter have come in at 16.71 per cent, which was higher year-on-year.
Operational performance improved in Q2 as it increased by 12.80 per cent to Rs 63.62 vis-à-vis Rs 56.40.
Profits augmented by 7.25 per cent to Rs 45.2 crore compared to Rs 42.15 crore in the corresponding period of the previous fiscal.
The domestic formulation business sales stand at Rs 125.84 crore, registering a growth of 12.11 per cent, while focused product group achieved growth of 21 per cent.
Overall formulation exports at Rs 131.35 crores were 1.26 per cent lower than exports in corresponding period in the previous year.
USFDA has approved company’s ANDA for Oxybutynin Chloride. Company expects to commence commercial supplies in the current quarter.
Shares of J B Chemical declined by close to 2 per cent in trade post the announcement of results.
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