IOL Chemicals and Pharma announces Q1 results; Reports 47.2 percent y-o-y decline

Moreover, IOL’s PAT in Q1FY23 stood at Rs34.90 crore as compared to Rs27.80 crore in Q4FY22, registering a growth of 25.50% yoy. PAT for Q1FY22 was reported at Rs67 crore, registering a decline of 47.91% yoy.

IOL Chemicals and Pharma announces Q1 results; Reports 47.2 percent y-o-y decline
The company achieved an EBITDA Margin of 10.70% in Q1FY23 as compared to 8.6% in Q4FY22. (File)

IOL Chemicals and Pharmaceuticals Limited on Thursday reported results for the first quarter ended June 30, 2022. According to the company’s statement, it has reported a total income of Rs570.20 crore in Q1FY23 as against Rs579.40 crore in the previous quarter, down by 1.6 percent sequentially. However, on a y-o-y basis, the company registered a growth of 8.78 percent against Rs524.20 crore in Q1FY22.

For Q1FY23, the company logged an EBITDA of Rs61.20 crore, up by 22.20% against Rs50.10 crore in the previous quarter. While on a y-o-y basis, EBITDA declined by 47.20% against Rs115.90 crore in Q1FY22.

The company achieved an EBITDA Margin of 10.70% in Q1FY23 as compared to 8.6% in Q4FY22. Moreover, IOL’s PAT in Q1FY23 stood at Rs34.90 crore as compared to Rs27.80 crore in Q4FY22, registering a growth of 25.50% yoy. PAT for Q1FY22 was reported at Rs67 crore, registering a decline of 47.91% yoy.

“Over the next few years, our focus will be on diversifying into other speciality chemical products and increase the share of non-Ibuprofen business. The investment planned in setting up a new plant will aid the Company in strengthening its position in both, Domestic and Export markets, thereby helping in improving our market share. Over the course of next few quarters, the Company’s plan to explore new geographies and de-risk the business with continuous backward integration model will play out leading to improvement in revenue as well as profitability,” Dr Sanjay Chaturvedi, Executive Director & CEO said in a statement on Thursday.

At around 9.27 AM, IOL Chemicals was trading at Rs354.30 up by Rs5.7 or 1.64% from its previous closing of Rs348.60 on the BSE. The scrip opened at Rs348.60.

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