By: IPP Bureau
Last updated : August 10, 2024 8:21 am
The company reported total income at Rs. 509.8 crore in Q1 FY25 as compared to Rs. 570.3 crore in Q1 FY24
IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and speciality chemicals, announced its financial results for quarter ended 30th June, 2024.
The company reported total income at Rs. 509.8 crore in Q1 FY25 as compared to Rs. 570.3 crore in Q1 FY24, reflecting a drop of 10.6 per cent. Total income in Q4 FY24 was Rs. 511.4 crore. In Q1 FY25, IOL Chemicals and Pharmaceuticals posted PAT of Rs. 29.7 crore as compared to Rs. 46.2 crore, registering a drop of 35.7 per cent. The company's PAT stood at Rs. 28.2 crore in Q4 FY24.
Operational Highlights
• Approval from Center for Drug Evaluation (CDE) of National Medical Products Administration (NMPA), China to export “Fenofibrate” in China Market
• Received CEP Certificate issued by EDQM for the following products enabling the company to export in European Market:
➢ “Pantoprazole Sodium Sesquihydrate” for alternative process (Process - II) – Used for heartburn, acid reflux and gastro-oesophageal reflux disease (GORD).
➢ Valsartan – Used for to treat high blood pressure (hypertension).
➢ Allopurinol – Used to prevent increased uric acid, gout and joint pain.
Commenting on the performance, Vikas Gupta, Joint Managing Director said, “Despite facing challenging geopolitical conditions, the Company has successfully maintained operational performance, demonstrating resilience in absorbing the pricing volatility of raw materials for chemicals and intermediates. With the recent approvals from various regulatory authorities, we are excited to explore untapped opportunities in regulated markets. Our commitment to enhancing operational efficiency remains steadfast as we embrace cutting-edge technology, all while striving to minimize our carbon footprint. We are dedicated to driving sustainable growth and setting new benchmarks in our industry.”