J B Chemicals & Pharmaceuticals, a Rs. 925 crore plus pharma major from Mumbai, has reported lower net profit of Rs. 31.89 crore during the second quarter ended September 2014 as against Rs. 33.14 crore in the similar period of last year. Its net sales, however, improved by 11.1 per cent to Rs. 274.86 crore from Rs 247.44 crore. EBDITA moved up by 10.2 per cent to Rs. 63.03 crore from Rs 57.16 crore. Its foreign exchange loss amounted to Rs. 8.08 crore as compared to Rs. 7.49 crore. EPS worked out to Rs. 3.76 as compared to Rs. 3.91 in the last period.
The net sales are not strictly comparable due to the company's wholly owned subsidiary in Dubai commenced sales and distribution of the products in the Russia-CIS countries during last quarter. This subsidiary will also undertake some of the expenses. Hence, this arrangement is not expected to have significant impact on the the company.
For the first half ended September 2014, J B Chemicals' net profit improved by 19.1 per cent to Rs. 63.68 crore from Rs. 53.47 crore and its net sales improved by 11.5 per cent to Rs. 531.57 crore from Rs. 476.61 crore.