IOL Chemicals and Pharmaceuticals announced Q2FY23 results:
- Total income stood at Rs 546 crore against Rs 570 crore QoQ and Rs 548 crore YoY
- EBITDA at Rs 37 crore as compared to Rs 61 crore QoQ and Rs 54 crore YoY
- Net profit of the Company at Rs 15.6 crore against Rs 34.9 crore QoQ and Rs 30.8 crore YoY
Sanjay Chaturvedi, Executive Director & CEO, said, “The global economy is going through a roller-coaster ride as central banks battle inflation through rate hikes. Apart from inflation, global trade is also impacted by the uncertain business environment following Russia’s invasion of Ukraine and frequent lockdowns in China, thereby leading to supply chain disruptions.
For the Indian API manufacturers and speciality chemicals players, the major challenge comes from volatile input costs with raw material and energy prices both impacting profitability. However, we expect the headwinds to subside going into the second half of this financial year and strongly believe that the worst is behind us in terms of challenges. IOL Chemicals has improved the operational efficiency over the last few quarters and we believe this would give us an edge in terms of expanding our margins next quarter onwards.”