The Board of Directors of IOL Chemicals and Pharmaceuticals has considered the successful setting up of new manufacturing facilities ('Unit-10') for manufacturing multiple Pharma (API's) products with a capex of Rs. 28.69 Crore which is funded fully through internal accruals.

Meanwhile, the company has reported total income of Rs.524.23 crores during the period ended June 30, 2021 as compared to Rs.466.59 crores during the period ended March 31, 2021. The company reported total income of Rs.465.91 crores during the period ended June 30, 2020.

IOL Chemicals has posted net profit of Rs.67 crores for the period ended June 30, 2021 as against net profit of Rs.75.25 crores for the period ended March 31, 2021. It posted net profit of Rs.127.54 crores for the period ended June 30, 2020.

Sanjay Chaturvedi, Chief Executive Officer said "During the quarter ended June 2021, the company's performance has been satisfactory in spite of difficult operating conditions faced by the Company during surged situation of Covid-19 pandemic. The Chemicals segment performed very well during the quarter both in terms of top line and bottom line.

He also added, the company completed the installation of new manufacturing facilities 'Unit-10' to manufacture multiple Pharma (API's) products including Fenofibrate, Lamotrigine and Ursodeoxycholic Acid (UDCA) to cater the growing demand.

Talking about future projects, he added that the installation of new manufacturing facilities 'Unit-9' for manufacturing Gabapentin & other pharma (APIs) products is slightly delayed of its schedule due to 2nd wave of Covid-19 and expected to complete in 3rd quarter of FY22 without any cost overrun.