IOL Chemicals & Pharmaceuticals rallied 5.48% to Rs 345.65 after the company received a certificate of suitability (CEP) for its API product, Quetiapine Fumarate, from European Directorate for the Quality of Medicines & Health Care (EDQM).
The said certification will enable the company to export Quetiapine Fumarate to European and other countries that accept CEPs. Quetiapine Fumarate is an antipsychotic drug which is widely used to treat various mental health disorders.IOL Chemicals and Pharmaceuticals is a pharma API and speciality chemicals manufacturer.
The companys consolidated net profit declined 11% to Rs 20.53 crore in Q3 FY25 as compared with Rs 23.08 crore in Q3 FY24. Net sales increased marginally to Rs 523.30 crore in Q3 FY25, up .0.6% as compared with Rs 520.39 crore in Q3 FY24.
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