 "Ipca Lab gains as Q1 profit more than doubles")
Ipca Laboratories has surged 7% to Rs 537, bouncing back 9% from intra-day low on the BSE after net profit more than doubled to Rs 47.57 crore for the quarter ended June 30, 2016 (Q1FY17). The pharmaceutical company had registered a profit of Rs 20.92 crore in the same quarter year ago.
Net total income grew 11% at Rs 847 crore against Rs 762 crore in the corresponding quarter of previous fiscal.
However, the company’s domestic formulation income up 9%, against analyst at Motilal Oswal Securities expected growth of 12% year on year (YoY).
The company said EBITDA (earnings before interest, depreciation and taxes) profit increased by 60% YoY at Rs 129 crore, margin expanded 466 basis points to 15.26% from 10.60%.
At 12:34 pm, the stock was up 4% at Rs 524, after hitting low of Rs 494 on the BSE in intra-day trade. The trading volumes on the counter jumped more than doubled with a combined 1.69 million shares changed hands on the BSE and NSE so far.
Net total income grew 11% at Rs 847 crore against Rs 762 crore in the corresponding quarter of previous fiscal.
However, the company’s domestic formulation income up 9%, against analyst at Motilal Oswal Securities expected growth of 12% year on year (YoY).
The company said EBITDA (earnings before interest, depreciation and taxes) profit increased by 60% YoY at Rs 129 crore, margin expanded 466 basis points to 15.26% from 10.60%.
At 12:34 pm, the stock was up 4% at Rs 524, after hitting low of Rs 494 on the BSE in intra-day trade. The trading volumes on the counter jumped more than doubled with a combined 1.69 million shares changed hands on the BSE and NSE so far.