India’s IOL Chemical reported profit growth in the third quarter 2019 on strong API sales.
The company reported a 20% year on year growth in EBIDTA at Rs 163 crore ($22.7 million) in December quarter. EBIDTA margin grew to 31.65% from 28.39% in the prior-year quarter. The company’s income from operations increased by 8% to Rs 515 crore ($71.7 million) from Rs 479 crore ($66.7 million) in the prior-year quarter.
IOL Chemical is an active pharmaceutical ingredients and specialty chemicals manufacturer with world class facilities in Barnala of Punjab state.
The company anticipates growth in demand for Ibuprofen and its other new products and will target to gain market share in medium to longterm.