Ipca Labs Q4 net profit declines 19% at Rs 130 crore on higher expenses

Pharmaceuticals firm Ipca Laboratories Ltd on Tuesday reported a 19 per cent decline in consolidated net profit after tax at Rs 130.23 crore in the fourth quarter ended March 2022, impacted by higher expenses.

The company had posted a consolidated net profit after tax of Rs 161.34 crore in the same quarter previous fiscal, Ipca Laboratories said in a regulatory filing.

Consolidated net total income during the quarter under review stood at Rs 1,303.64 crore as against Rs 1,134.58 crore in the year-ago period, a growth of 15 per cent, it added.

Total expenses in the March quarter stood at Rs 1,134.09 crore as compared to Rs 939.95 crore in the previous fiscal.

Ipca Laboratories said formulations segment clocked a total revenue of Rs 898.29 crore. The same stood at Rs 771.61 crore in the corresponding period of FY21, while the Active Pharmaceutical Ingredients (APIs) business registered total revenue of Rs 257.84 crore, down 1 per cent from Rs 259.94 crore a year ago.

In the fiscal ended March 31, 2022, consolidated net profit after tax was down 22 per cent at Rs 884.08 crore in comparison with Rs 1,140.01 crore in the preceding fiscal, the company said.

Consolidated net total income for FY22 stood at Rs 5,896.36 crore. It was at Rs 5,482.83 crore in FY21, a growth of 8 per cent, it added.