JB Chemicals & Pharmaceuticals on Friday said its profit after tax (PAT) increased 43 per cent to Rs 126 crore in the March quarter, driven by strong sales. The drug maker had reported a PAT of Rs 88 crore in the March quarter of FY23.

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Revenue increased to Rs 862 crore in the fourth quarter as against Rs 762 crore in the year-ago period, JB Chemicals & Pharmaceuticals said in a statement. For the year ended March 31, 2024, the company said its PAT increased 35 per cent to Rs 553 crore as compared with Rs 410 crore in FY23. Revenue increased to Rs 3,484 crore in last fiscal as against Rs 3,149 crore in 2022-23 fiscal.

"The company continued its momentum in the quarter with market beating growth in domestic business. With strong focus on our leading brands, we continue to drive higher than market volume growth and gain share in our core therapeutic areas," JB Pharma CEO Nikhil Chopra said.

The focus on improving business mix and cost management strategies, has helped international business improve overall operating margins despite increase in freight costs on account of geo-political issues, he added.

"With continued thrust on domestic and CDMO (Contract Development and Manufacturing Organizations) businesses, we feel confident that the company will continue to deliver sustained revenue growth and improved operating margins in the medium to long term," Chopra said.

Shares of drug firm on Friday ended 0.45 per cent down to Rs 1,823.85 apiece on the BSE.