JB Chemicals Q1 net profit decline by 7.97%

The company’s net profit declined by 7.97% to Rs 19.04 for the quarter ended June 30, 2011 against Rs 20.69 crore in the same period previous fiscal. Total income of the company rose to Rs 182.56 crore for the June quarter, as against Rs 163.21 crore in the same period previous fiscal.

Recently, JBCPL board has granted its approval to the company for entering into a definitive agreement to sell its Russia-CIS prescription products business to Dr Reddy’s Laboratories (DRL). The transaction which involves the sale of products registration, intellectual properties, etc is for the consideration worth Rs 137.5 crore.