Business Update7 Feb 2024, 01:31 am
IOL CHEMICALS & PHARMACEUTICALS LTD. REPORTS 43.5% INCREASE IN NET PROFIT FOR 9M FY 24
AI Summary
IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and specialty chemicals, announced its financial results for the third quarter and nine months ended December 31, 2023. The company's net profit rose 43.5% to Rs.107.2 crore in 9M FY 24, driven by a 38.2% increase in EBITDA to Rs.204.0 crore. The company received CEP certificate approval for Losartan Potassium, enabling higher exports to the European market.,
Key Highlights
- EBITDA margin improved by 340 bps to 12.3%
- Net profit rose 43.5% to Rs.107.2 crore in 9M FY 24
- Received CEP certificate approval for Losartan Potassium
- Resilience in financial performance despite sectoral headwinds