IOL Chemicals and Pharmaceuticals net profit jumps 141% to Rs. 37.8 crore in Q2 FY24

· Total income for Q2 FY24 stood at Rs. 552.4 crore against Rs. 570.2 crore QoQ and Rs. 546.5 crore YoY

· EBITDA for Q2 FY24 at Rs. 71.2 crore as compared to Rs. 79.9 crore QoQ and Rs. 36.7 crore in YoY

· Net profit for Q2 FY24 at Rs. 37.8 crore as compared to Rs. 46.2 crore in QoQ and Rs. 15.7 crore in YoY

08th November, 2023, Bangalore: IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and speciality chemicals, announced its financial results for the second quarter and first half year ended September 30, 2023.

Q2 & H1 FY24 Financial Highlights

(Rs in Crore)
Particulars

Q2 FY24

Q1 FY24

% QoQ

Q2 FY23

% YoY

H1 FY24

H1 FY23

% YoY

Total Income

552.41

570.24

-3.1%

546.47

1.1%

1,122.65

1,116.65

EBITDA

71.21

79.92

-10.9%

36.73

93.9%

151.13

97.92

EBITDA Margin (%)

12.9%

14.0%

6.7%

13.5%

8.8%

PAT

37.79

46.21

-18.2%

15.67

141.2%

84.00

50.58

PAT Margin (%)

6.8%

8.1%

2.9%

7.5%

4.5%

Commenting on the performance, Mr Vikas Gupta, Joint Managing Director said, “With the global economy showing signs of stability, the pharmaceutical and chemical trade are likely to revive in the second half of this fiscal. We, at IOL, are pleased to announce another stellar quarterly performance amid the backdrop of strong growth in pharmaceutical sector. As the Company positions itself for upcoming opportunities through entry into regulated markets and focus on improved efficiencies, we are hopeful of sustained performance, thereby driving value creation for the shareholders and investors, alike.”