IOL Chemicals and Pharmaceuticals Ltd, manufacturer of pharmaceutical APIs and speciality chemicals, has announced its financial results for the first quarter ended June 30, 2023. The total income for Q1 FY24 stood at ₹570 crore at the same level of ₹570 crore YoY. The net profit for Q1 FY24 stood at ₹46 crore as compared to ₹35 crore YoY.
Vikas Gupta, Joint Managing Director commented, “We are pleased to report sustainable performance during the 1st quarter of FY24, tackling present challenges while positioning ourselves for forthcoming opportunities. We are hopeful for increased presence in regulatory market as the Company got CEP for paracetamol. Additionally, with the commencement of Acetic Anhydride plant, focus on improved efficiencies, product mix and timely execution we are hopeful to generate strong cash flow”.
The press release stated that the company’s product portfolio includes APIs; Ibuprofen, Metformin, Fenofibrate, Clopidogrel, Lamotrigine, Pantoprazole, Paracetamol and specialty chemicals such as Ethyl Acetate, Iso Butyl Benzene, Mono Chloro Acetic Acid, Acetyl Chloride and Acetic Anhydride.
The brand produces Ibuprofen and has an installed capacity of 12,000 TPA along with backward integrated manufacturing facility. It has DSIR-approved R&D, which is fully equipped to validate existing processes.
