JB Chemicals & Pharmaceuticals has said on Friday that its net profit has more than doubled during the fourth quarter of the financial year 2012-2013.

The company had recorded a net profit of Rs. 8.86 crore during the same period of the previous year.  The net sales of the company increased to Rs. 197.72 crore during the fourth quarter from January to March 2013 compared to Rs. 148 crore recorded in the same quarter of the previous financial year 2011-2012, the company said in a filing with the Bombay Stock Exchange (BSE).

As for the entire financial year 2012-2013, the company said that it recorded a net profit of Rs. 84.93 crore compared to a net profit of Rs. 642.69 crore recorded in the financial year 2011-2012.  However, the company pointed out that the results for the entire financial year cannot be compared to that of the previous financial year due to sale of Russia-CIS over-the-counter business during the previous year.

The company's net sales stood at Rs. 794.46 crore during the financial year compared to Rs. 635.77 crore recorded in the previous financial year.

Shares in JB Chemicals & Pharmaceuticals closed 0.06 per cent at Rs. 82.65 on the BSE on Friday.