IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and speciality chemicals, announced its financial results for the second quarter and first half year ended September 30, 2023.

Total income for Q2 FY24 stood at Rs. 552.4 crore against Rs. 570.2 crore QoQ and Rs. 546.5 crore YoY. EBITDA for Q2 FY24 at Rs. 71.2 crore as compared to Rs. 79.9 crore QoQ and Rs. 36.7 crore in YoY. Net profit for Q2 FY24 at Rs. 37.8 crore as compared to Rs. 46.2 crore in QoQ and Rs. 15.7 crore in YoY.

Commenting on the performance, Vikas Gupta, Joint Managing Director said, “With the global economy showing signs of stability, the pharmaceutical and chemical trade are likely to revive in the second half of this fiscal. We, at IOL, are pleased to announce another stellar quarterly performance amid the backdrop of strong growth in pharmaceutical sector. As the Company positions itself for upcoming opportunities through entry into regulated markets and focus on improved efficiencies, we are hopeful of sustained performance, thereby driving value creation for the shareholders and investors, alike.”