IOLCP Registers Nearly Threefold Jump In Net Profits YoY In Q4FY23

IOL Chemicals and Pharmaceuticals, a manufacturer of pharmaceutical APIs and speciality chemicals, announced its financial results for the fourth quarter and fiscal year that ended March 31, 2023 on Friday, the company registered a 2.9 per cent rise in its consolidated revenues year on year. 

The company's revenue for the fourth quarter stood at Rs 596 crores against Rs 579 crores in the same quarter last year. The company's total income for FY23 stood at Rs 2,243 crore as compared to Rs 2,216 crore in FY22.

IOL's recorded a Profit After Tax (PAT) of Rs 65 crores in quarter four of the financial year 2023 (Q3FY23) against Rs 24 crores recorded in the corresponding quarter in the previous year, a 135 per cent jump year on year. The company's Net profit for FY23 at Rs 140 crore as compared to Rs 166 crore in FY22. 

The company's EBITDA for Q4 FY23 stood at Rs 104 crore as compared to Rs 50 crore in Q4 last year. Whereas the EBITDA for the whole of FY23 stood at Rs 252 crore as compared to Rs 288 crore in FY22, a slump of 12.6 per cent. 

The company's EBITDA margins rose by 810 bps to 17.5 per cent in Q4FY23 YoY as compared to 8.6 per cent in Q4FY22, whereas the company's margins dropped in the whole of FY23 by 180 bps to 11.2 per cent as compared to 13 per cent in FY22.

Vikas Gupta, Joint Managing Director said, “The last quarter of the financial year has come out strong for us as we stabilized our operations in pharma and specialty chemicals segments with a focus on cost rationalisation and margin improvement. With significant operational, technical and commercial efficiencies, improved market combination and expecting sustainable demand as an alternative to China, we believe we are on a good upward trajectory.”

The company's stock closed at 6.58 per cent lower on Friday at Rs 398.70 on BSE.