J B Chemicals first quarter profit doubles amid tight savings
Sales from operations for Q1FY21 stood at Rs. 522.28 crores up by 17% YoY from Rs. 446.11 crores in Q1FY20.
J.B. Chemicals & Pharmaceuticals Limited has reported a solid growth in its profits and sales during first quarter of the current year.
Sales from operations for Q1FY21 stood at Rs.522.28 crores up by 17% YoY from Rs.446.11 crores in Q1FY20.
Profit before tax for the quarter up by 70.7% at Rs.157.07 crores in Q1FY21 as compared to Rs.91.98 crores in Q1FY20.
Business performance during the quarter improved due to a 17% growth in revenue coupled with an increase in other income (primarily from current investments) and a better product mix with savings in some heads of expenditure on account of the current situation due to the Covid-19 pandemic.
Profit after tax for the quarter up by 92.4% at Rs.119.5 crores in Q1FY21 as compared to Rs.62.11 crores in Q1FY20.
The management control of the company was transferred from the erstwhile promoters to the Tau Investment Holdings Pte. Ltd which is an investment company incorporated in Singapore. It is an indirect wholly owned subsidiary of KKR Asian Fund III L.P.
J B Chemicals & Pharmaceuticals Limited is an Indian pharmaceutical company, headquartered in Mumbai, Maharashtra.
In July this year, KKR had announced that it will buy a 54% equity stake in JB Chemicals for Rs 3,109 crore.
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