IOL Chemicals and Pharmaceuticals Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 06, 2024 at 07:45 am EST
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IOL Chemicals and Pharmaceuticals Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 5,203.9 million compared to INR 5,234.8 million a year ago. Revenue was INR 5,287.7 million compared to INR 5,301.3 million a year ago. Net income was INR 230.8 million compared to INR 237.8 million a year ago. Basic earnings per share from continuing operations was INR 3.93 compared to INR 4.05 a year ago. Diluted earnings per share from continuing operations was INR 3.93 compared to INR 4.05 a year ago.
For the nine months, sales was INR 16,288.7 million compared to INR 16,299 million a year ago. Revenue was INR 16,514.2 million compared to INR 16,467.8 million a year ago. Net income was INR 1,068.1 million compared to INR 743.6 million a year ago. Basic earnings per share from continuing operations was INR 18.19 compared to INR 12.67 a year ago. Diluted earnings per share from continuing operations was INR 18.19 compared to INR 12.67 a year ago.
IOL Chemicals and Pharmaceuticals Limited is engaged in manufacturing and selling of pharmaceutical and chemical products. The Company operates through two segments: Chemical, and Pharmaceutical. The Chemical segment produces and sells Ethyl Acetate, Iso Butyl Benzene, Acetyl Chloride, Mono Chloro Acetic Acid, Para Amino Phenol (PAP), and others. The Pharmaceutical segment produces and sells various active pharma ingredients (API) include Ibuprofen, Metformin, Fenofibrate, Lamotrigine, Clopidogrel Bisulphate, Pantoprazole, Gabapentin, Paracetamol, and others. Its API product portfolio includes Ibuprofen, Metformin HCL, Pantoprazole Sodium, Clopidogrel Bisulphate (Form II), Lamotrigine, Losartan Potassium, Levetiracetam, Paracetamol, Fenofibrate (Micronised), and Gabapentin. Its Specialty Chemical division includes Ethyl Acetate, and Acetic Anhydride. Its Ethyl Acetate is used in industries like flexible packaging, pharmaceuticals, ink, food processing, pesticides, and paint industry.