News | November 15, 2022
IOL Chemicals and Pharmaceuticals Q2FY23 net profit drops to Rs 15.6 Cr
The company registered with REACH Certificate for Ethyl Acetate with a tonnage band of more than 1000 TPA
The company registered with REACH Certificate for Ethyl Acetate with a tonnage band of more than 1000 TPA
The company is focussed on increasing the capacity utilizations while controlling costs
The company hopes to build on this momentum in the coming quarters and continue to focus on our key brands to drive sustainable profitable growth
Q2 FY23 business performance has been slow primarily due to lower volume offtake from pharmaceutical manufacturers
Formulation revenue decreased by 7.6% YoY to Rs. 4,770 crore whereas in Q2 FY23, API business posted a growth of 24.2% YoY with revenue of Rs. 969.4 crore
Investment in R&D was Rs. 337.6 crore (8.3% of sales) for Q2 FY2023 as compared to Rs. 330 crore (8.2% of sales) for Q2 FY2022.
For the half year ended September 30th, 2022 revenue from operations stood at Rs. 185.44 crore in H1 FY23, as against Rs. 219.89 crore in H1 FY22, a decrease of 15.67%
Doxycycline Capsules (RLD Oracea) had estimated annual sales of US $215 million in the US
The company posted net profit of Rs.81.33 crores for the quarter ended September 30, 2021.
The company has successfully developed Methyl salicylate using Flow Chemistry and successfully erected a Flow reactor at Jhagadia plant and expects to start production from Q3 FY23
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