JB Pharma profit rises 14 pc to Rs 202 cr in Q1
New Delhi, Jul 30 (PTI) JB Chemicals & Pharmaceuticals Ltd on Wednesday reported a 14 per cent rise in net profit to Rs 202 crore in the June quarter.
The company had posted a net profit of Rs 177 crore in the corresponding period of the previous fiscal year, JB Chemicals & Pharmaceuticals (JB Pharma) said in a regulatory filing.
Revenue in the first quarter stood at Rs 1,094 crore as against Rs 1,004 crore in the same period a year ago, up 9 per cent, it added.
'The domestic business recorded approximately 14 per cent value growth. This was driven by acute and chronic segments, including our ophthalmology portfolio. Our major brands & their franchises are also performing well," JB Pharma CEO and Wholetime Director, Nikhil Chopra said.
He further said, 'The CDMO (contract development and manufacturing organisation) business momentum is likely to sustain in coming quarters." The company said its domestic formulations business recorded revenue of Rs 678 crore as against Rs 595 crore in the first quarter last fiscal year, up 14 per cent driven by good growth in acute including opthal portfolio and the chronic portfolio.
International business revenue declined marginally to Rs 283 crore in the first quarter as compared to Rs 290 crore in the year-ago period, it added.
Going forward, Chopra said, 'We will maintain focus on driving topline growth, cost optimisation and organisational efficiencies. I am confident that the organisation will continue to perform well, with our domestic and CDMO segments leading the way on growth and profitability." PTI RKL TRB
view comments
First Published:
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
10 minutes ago
- Indian Express
Pune Metropolitan Region Growth Hub Launch: ‘New airport, ring road can boost Pune's economy by Rs 3 lakh crore', says Fadnavis
'It is no longer the case that any one city dominates a sector, and many cities in Maharashtra are developing rapidly. However, Pune is a very progressive and innovative city and has the potential to create its strength by entering new sectors,' Chief Minister Devendra Fadnavis said while inaugurating the Pune Metropolitan Region Growth Hub at YASHADA on Friday. The initiative aims to double the city's economy of $58 billion over the next five years and was a joint initiative between NITI Aayog, the state Government, and Pune International Centre, representing a coordinated effort to accelerate regional development through strategic planning and policy reforms. Fadnavis outlined an ambitious vision where Pune competes not just with other Indian cities but on the global stage, contributing to India's goal of becoming a five-trillion-dollar economy. He emphasised that the new airport and ring road in Pune are expected to generate an economic impact of Rs 3 lakh crore. 'Today, 65 per cent of GDP comes from urban surroundings. This growth can be accelerated through proper planning,' Fadnavis explained, highlighting the importance of creating an integrated ecosystem for industrial development. Fadnavis explained that with the help of the central government, the state government's 'Educity' project in Navi Mumbai has already attracted five world-renowned universities, with plans to welcome 10 universities that will educate at least 50,000 students over the next five years. This initiative alone is expected to generate Rs 2,000 crore in GST revenue. 'These universities will bring a new revolution based on AI. Global industries will come here to take advantage of this opportunity,' Fadnavis said, emphasising Pune as a hub for artificial intelligence and advanced technologies. Deputy Chief Minister Eknath Shinde said that Pune's success lies in its diverse strengths across technology, industry, manufacturing, education, and healthcare. Known as the 'Oxford of the East,' Pune's excellent educational institutions create a steady source of skilled professionals. 'The city's current advantages include a thriving automotive industry, a robust information technology sector, engineering research capabilities, and strong small and medium enterprises. The growth hub will build upon these foundations while identifying new expansion opportunities, Shinde added. The 'Developing City Regions as Growth Hub' initiative was launched by the NITI Aayog in 2023. It focuses on developing urban centres through economic growth, lifestyle improvement, and sustainable practices. Initially implemented as a pilot in Mumbai Metropolitan Region (MMR), Surat, Varanasi, and Visakhapatnam, the program has now expanded to include Pune. 'The state is planning to establish more such growth hubs in Nagpur, Chhatrapati Sambhajinagar, and Nashik,' said Rajagopal Deora, Additional Chief Secretary of the Planning Department. The Mumbai Metropolitan Region, which started earlier, targets doubling its economy from $140 billion to $300 billion within five years, providing a successful model for Pune to follow. 'Pune needs to achieve a 10 per cent economic growth rate to realise its potential as a global city. The ultimate target is to reach a $600 billion economy, positioning Pune among the world's leading cities,' said NITI Aayog CEO B.V.R. Subrahmanyam. 'The growth hub will focus on removing bureaucratic obstacles, implementing policy reforms, and creating necessary infrastructure. A comprehensive plan will be prepared over the next 4-5 months, involving local institutions, industries, and organisations in the planning process,' added Subrahmanyam.
India.com
10 minutes ago
- India.com
After Pakistan, China plans to capture THIS African country in its debt-trap, Chinese companies to invest Rs 30521037715 for...
(File) China debt-trap: China, which has the mastered the art of gaining a giant foothold in smaller, economically weaker countries by making large investments in its various sectors, has now set its sights on Angola as two Chinese companies have signed deals to acquire land to grow food grains in the African country at an investment of $350 million (about Rs 3,052 crore). Where is China investing? According to a media report, the state-owned Chinese firms will invest Rs 3052 crore in Angola, to cultivate soybean, maize and other grains on thousands of hectares of land, a portion of which will be shared with the host country. The project is aimed at reduce China's dependence for food grains on the United States and Brazil. Notably, in recent years, China has invested in similar projects in other African countries including Tanzania, Ethiopia and Benin, as it pushes to end dependence on food exports from the West. Which companies are investing in Angola? As per a report by the South China Morning Post, two state-owned companies– SinoHydro Group and Citic Group — have signed agreements to invest in Angola. The SinoHydro Group has been leased 30,000 hectares of tax-free land for 25 years, up which it will cultivate food grains, with 60% of the produce going directly to China. The Citic Group will invest $250 million in the next 5 years and cultivate soybean and corn on a massive 100, 000 hectares of land, the report said, adding that work has already begun on 8,000 hectares. How China is luring African countries? According to experts, China is offering a major relief to African countries after US President Donald Trump imposed heavy tariffs on their export. Earlier, in June, Beijing announced to eliminate import duties on goods coming from nearly all of its African partners, providing these nations with a never-before opportunity to strengthen South-South trade, as per a CNN report. Why China is investing in Africa? However, many geopolitical analysts are skeptical of China's growing investments in Africa, stating that Beijing's goals are strategic and go well beyond the noble aim of ensuring food security. Several experts claim that China is taking tax-free land on a long lease period to strengthen its hold in Africa and reduce imports from the West, particularly the US. Before the farming deal, China and Angola had an 'infrastructure for oil' exchange deal, but now the African country has shifted focus to agriculture to ensure its economy does not remain dependent on a single resource.
Indian Express
40 minutes ago
- Indian Express
UAE Central Bank suspends motor insurance business of Oriental Insurance in Dubai: Here's why
The Central Bank of the UAE (CBUAE) has suspended the motor insurance operations of state-owned Oriental Insurance Company (OIC) in Dubai due to non-compliance with regulatory requirements in the country. OIC has decided to place its Dubai operations in run-off mode. The branch, which began operations in 1960, generated a total business of Rs 296 crore in 2024. 'The insurer remains liable for all rights and obligations arising from insurance contracts concluded before the suspension,' CBUAE said in a note. This action comes as a result of the entity's failure to comply with the solvency and guarantee requirements, specified in the Law and prevailing regulations governing insurance companies in the UAE, CBUAE said. The CBUAE, through its supervisory and regulatory mandates, endeavours to ensure that all insurers, their owners and staff comply with the UAE laws, regulations and standards established by the CBUAE to maintain transparency and integrity of the insurance sector and safeguard the UAE financial ecosystem, the UAE regulatory body said. In insurance terms, 'run-off' means the company will continue to manage and settle claims on existing policies until they expire, but it is no longer allowed to issue new policies. 'CBUAE suspended the motor insurance business of a foreign insurance company's branch (insurer), pursuant to Articles (33) and (44) of Federal Decree Law No. (48) of 2023 Regulating Insurance Activities,' CBUAE said. OIC has informed the CBUAE that its Dubai branch will move into run-off operations starting August 7. The company assured that it will fully meet all obligations and commitments arising from policies issued before this date, continuing to service them until their natural expiry. OIC was required to deposit a statutory bank guarantee of AED 100 million, but the Central Bank of the UAE (CBUAE) denied its request for additional time to obtain board and regulatory approvals. As a result, the regulator barred the company from issuing new or renewal motor insurance policies, a source said. OIC has overseas operations in Nepal, Kuwait and Dubai. In August 2021, State-owned General Insurance Corporation (GIC Re), a leading non-life reinsurer globally, decided to put its Dubai branch into run off mode as the Dubai authority did not renew the licence issued to the company. The reinsurer was to run the Dubai business from the GIFT City IFSC in Ahmedabad. GIC has three overseas offices — branch offices in London, Dubai and Malaysia. Apart from this, it has three wholly owned subsidiaries — GIC Re South Africa Ltd., Johannesburg; GIC Re, India, Corporate Member Limited, London and GIC Perestrakhovanie LLC, Moscow. The company has also invested in the share capitals of Kenindia Assurance Company Ltd, Kenya, India International Insurance Pte Ltd, Singapore, Asian Reinsurance Corporation, Bangkok, East Africa Reinsurance Company Ltd, Kenya, and GIC Bhutan Re Ltd, Bhutan. New India Assurance placed its operations in two countries under run-off. The Hong Kong branch entered run-off on April 1, 2022, followed by the Philippines branch on January 1, 2023, after a strategic review of regulatory requirements and business viability. Despite these exits, the company continues to operate in around 24 countries, with branches or affiliates in key markets such as the UK, Japan, UAE, Australia, Thailand, Singapore, and Nigeria.
