Drug firm Ipca Laboratories today said its net profit dipped marginally to Rs 63.93 crore for the third quarter ended December 31, 2011, on account of forex losses due to rupee depreciation.
The company had posted a net profit of Rs 63.95 crore for the quarter ended December 31, 2010, Ipca Laboratories said in a filing to the Bombay Stock Exchange (BSE).
"The flat net profit is on account of forex transactions/translations losses of Rs 39.88 crore in Q3, FY12... On account of rupee depreciation," it added.
Total income of the company stood at Rs 614.83 crore for the quarter ended December 31, 2011, as against Rs 466.36 crore for the corresponding period last fiscal.
The company also said its board has declared a second interim dividend of Re 1 per share for the 2011-12 fiscal.
Shares of Ipca Laboratories settled at Rs 298.50 apiece on the BSE today, up 5.25% from their previous close.