Ipca Laboratories Q1 net up 67% at Rs 71 cr

Company posted a net profit of Rs 42.98 crore for the corresponding period of last fiscal

Drug firm Ipca Laboratories today reported 66.98% rise in net profit at Rs 71.77 crore for the first quarter ended June 30, 2013, mainly on account of robust sales.

The company had posted a net profit of Rs 42.98 crore for the corresponding period of last fiscal, Ipca Laboratories said in a BSE filing.

Total income from operations of the company also rose to Rs 805.56 crore for the quarter under consideration from Rs 637.61 crore for same period year ago, it added.

Revenues of the company rose in both the verticals of Formulations and Active Pharmaceutical Ingredients (APls), Ipca Laboratories said.

The revenues from Formulations rose to Rs 580.31 crore in the Q1 of FY14 as against Rs 448.69 crore for the same period last fiscal. The revenues from APls also rose to Rs 212.22 crore in the first quarter of FY'14 as against Rs 181.56 crore in the year ago period, it added.

Ipca Laboratories has a strong thrust on exports which now account for nearly 61% of its income, the company said.

Shares of Ipca Laboratories were today trading at Rs 656.10 apiece in the afternoon trade on BSE, up 1.45% from their previous close.