India's IOL Chemicals falls after Q4 profit drop

IOL Chemicals and Pharmaceuticals

15/05/2024 07:37

** Shares of IOL Chemicals and Pharmaceuticals  IOLC.NS 
down 2.4% at 367.70 rupees; it fell as much as 4.2% earlier in
the session
    ** Active pharmaceutical ingredient and speciality chemicals
maker on Tuesday reported 56.8% Y/Y fall in Q4 profit while rev
from ops fell 14.2% Y/Y    
    ** Co's segmental revenue from chemical and pharmaceutical
businesses fell 9.7% and 19.7%, respectively
    ** Last week, larger peer by market capitalisation SRF
 SRFL.NS  too posted a near 25% fall in Q4 profit
    ** Trading vol 2.2x 30-day daily avg
    ** IOLC shares fell 22% in March quarter vs 3.3% rise by
SRFL shares


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))