Ipca Lab gains after Q2 results

Ipca Laboratories rose 2.07% to Rs 678.05 at 14:19 IST on BSE after net profit rose 3% to Rs 129.45 crore on 10% growth in total income to Rs 852.03 crore in Q2 September 2013 over Q2 September 2012.

The Q2 result was announced during trading hours today, 24 October 2013.

Meanwhile, the S&P BSE Sensex was up 32.48 points or 0.16% at 20,800.36.

On BSE, 69,000 shares were traded in the counter as against average daily volume of 15,000 shares in the past two weeks.

The stock was volatile. The stock rose as much as 3.56% at the day's high of Rs 688 so far during the day. The stock lost as much as 0.34% at the day's low of Rs 662 so far during the day.

Ipca Laboratories' earnings before interest, taxation, depreciation and amortization (EBITDA) surged 31% to Rs 234.53 crore in Q2 September 2013 over Q2 September 2012. EBITDA margin improved to 27.7% from 23.28% in Q2 September 2012.

The company reported a foreign exchange (forex) loss of Rs 39.91 crore in Q2 September 2013 as against forex gain of Rs 6.38 crore in Q2 September 2012.

Ipca Laboratories' export income rose 11% to Rs 517.61 crore in Q2 September 2013 over Q2 September 2012. Indian formulations income grew 5% to Rs 276.17 crore.

Ipca Laboratories is a fast growing pharmaceutical company with a strong thrust on exports which now account for 61% of company's income. Ipca is vertically integrated and produces finished dosage forms and active pharmaceutical ingredients.

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