Indian drugmaker JB Chem posts first-quarter profit jump on strong domestic demand
The maker of "Rantac" antacid reported a consolidated net profit of 2.02 billion rupees ($23.02 million) for the quarter ended June 30, compared with 1.77 billion rupees a year earlier.
Its overall revenue climbed 14.5% to 10.94 billion rupees, boosted by demand in its key domestic formulations business.
The Indian pharmaceutical market grew 8% in June, led by drugs treating chronic conditions such as hypertension and diabetes, benefitting drugmakers specialising in such treatments.
JB Chem's revenue from its chronic and acute portfolios surged 15% and 12%, respectively, while an 8% climb in its contract drug manufacturing business also aided its results.
PEER COMPARISON
* The mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
APRIL TO JUNE STOCK PERFORMANCE
-- All data from LSEG
($1 = 87.7400 Indian rupees)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
23 minutes ago
- Reuters
Dollar drifts as investors await Fed governor replacement
SINGAPORE, Aug 6 (Reuters) - The dollar was rangebound on Wednesday, with investors choosing to stay on the sidelines ahead of U.S. President Donald Trump's pick to fill a coming vacancy on the Federal Reserve's Board of Governors. Trump said on Tuesday he will decide on a nominee by the end of the week and had separately narrowed the possible replacements for Fed Chair Jerome Powell to a short list of four. Data out the same day also showed the U.S. services sector activity unexpectedly flatlined in July even as input costs climbed by the most in nearly three years, underscoring the hit from Trump's tariffs on the economy, which has also begun to bite corporate earnings. Still, those did little to sway the dollar, as traders were hesitant to take on fresh positions ahead of news on who would fill the Fed board vacancy. Concerns are mounting that partisan loyalty would invade the staid world of central bank policy. The dollar was last little changed at 147.54 yen , while the euro ticked up 0.02% to $1.5760. Sterling last bought $1.3304. Moves in currencies overnight had been muted. "I still think that between now and the end of the week, if Trump is going to make an announcement about who he wants to fill the vacant board seat, depending on... how credible (the markets) view that candidate to be, I think that has the potential to prompt some reaction across everything," said Ray Attrill, head of FX research at National Australia Bank (NAB). "For me, that' the biggest swing factor for the next sort of 48 hours or so." While moves in the dollar have been more subdued this week, the currency has yet to recover from its steep losses on Friday, when it clocked its largest one-day percentage fall in nearly four months following an alarming jobs report. Against a basket of currencies, the dollar was last at 98.76 , still some distance away from its peak of 100.25 hit on Friday before the nonfarm payrolls figures. Traders continue to price in an over 90% chance of a Fed cut in September, with about 58 basis points worth of easing expected by the year-end. But data such as Tuesday's services ISM report underscore the fine line the Fed has to tread, as policymakers weigh rising price pressures from Trump's tariffs against signs of a weakening U.S. economy. "The services ISM has obviously got that kind of stagflationary whiff about it... that's obviously a bit of a two-edged sword in terms of what does that mean for policy," said NAB's Attrill. "At the moment, I think we're sort of of the view that maybe there's a bit too much confidence in the market about the certainty of a September move." In other currencies, the Australian dollar rose 0.15% to $0.6479, while the New Zealand dollar gained 0.23% to $0.5914. New Zealand's jobless rate rose slightly in the second quarter as the labour market remained soft, data on Wednesday showed, supporting the view that the central bank will proceed with a flagged 25 basis-point interest cut at its August policy meeting.
Reuters
an hour ago
- Reuters
TPG to acquire Australian automotive software firm Infomedia for over $420 million
Aug 6 (Reuters) - Australia's Infomedia ( opens new tab said on Wednesday it has agreed to be acquired by the Asia-focused private equity arm of asset manager TPG (TPG.O), opens new tab for an equity value of A$651 million ($421.33 million). Under the deal, shareholders in the ASX-listed firm would receive A$1.72 per share, reflecting an over 30% premium as compared to the stock's close on Tuesday. Infomedia provides software as a service (SaaS) solutions for the global automotive and motor service sector, offering clients data-driven solutions. It counts global carmakers BMW ( opens new tab, Audi and Cadillac among its customers, according to its website. The A$1.72 per-share offer sits close to what was offered for the firm back in 2022 by potential suitors from the United States. The cash consideration reflects an enterprise value of A$579 million, the company said. Infomedia is also allowed to pay its shareholders a fully franked dividend of up to 2 Australian cents per share for fiscal 2025 and a further special dividend of up to 2.9 Australian cents apiece. ($1 = 1.5451 Australian dollars)
Reuters
an hour ago
- Reuters
Assurant's quarterly profit rises on global housing business strength
Aug 5 (Reuters) - Insurer Assurant (AIZ.N), opens new tab posted a 25% jump in second-quarter profit on Tuesday, driven by strength in its global housing business. Insurance spending has remained relatively stable even as carriers raise premiums and tighten underwriting standards, reflecting the essential nature of coverage for both consumers and businesses. Analysts say this resilience stems from the non-discretionary role insurance plays in areas such as health, property and auto, where coverage is often mandatory or deeply embedded in financial planning. The company's global housing unit — which offers lender-placed homeowner insurance, manufactured housing insurance and flood coverage — posted net earned premiums, fees and other income of $697.7 million, a 10% jump from last year. The specialty insurance industry is expanding as traditional coverage models adapt to changing consumer needs, rising asset values and evolving technology. Meanwhile, insurers also benefited from higher investment returns in the second quarter as markets rebounded in June, shrugging off tariff concerns. Assurant's net investment income rose to $128.7 million in the quarter ended June 30, from $124.7 million a year earlier. Quarterly adjusted profit came in at $5.10 per share, compared to $4.08 per share last year.
