IOL Chemicals and Pharmaceuticals net profit rises 43.5% in 9M FY24

The company recently received CEP certificate approval for Losartan Potassium by EDQM

IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and speciality chemicals IOL Chemicals and Pharmaceuticals net profit rises 43.5% to Rs. 107.2 crore in 9M FY24 whereas total income for 9M FY24 stood at Rs. 1,651 crore against Rs. 1,647 crore YoY.

EBITDA for 9M FY24 at Rs. 204 crore up by 38.4% YoY. The Board declared an Interim Dividend of Rs. 5 per share.

Commenting on the performance, Vikas Gupta, Joint Managing Director said, “Despite sectoral headwinds, the company has shown resilience in its financial performance during nine months period. The company’s EBITDA margin has improved led by declining input cost. We recently received CEP certificate approval for Losartan Potassium by EDQM providing us an opportunity to further expand our exports into the regulated markets. We are continuously focusing on improving operational efficiencies further through backward integration.”

The company is the world’s largest producer of Ibuprofen with an installed capacity of 12,000 TPA and having backward integrated manufacturing facilities. The company has DSIR-approved R&D which is fully equipped to validate existing processes.