IPCA Laboratories hits record high after strong Q3 results

IPCA Laboratories rose 1.38% to Rs 779 at 13:20 IST on BSE after net profit rose 58% to Rs 139.12 crore on 19% increase in total income to Rs 838.37 crore in Q3 December 2013 over Q3 December 2012.

The company announced the result during trading hours today, 28 January 2014.

Meanwhile, the BSE Sensex was down 9.30 points, or 0.04%, to 20,698.15.

On BSE, so far 40,000 shares were traded in the counter, compared with an average volume of 21,785 shares in the past one quarter.

The stock hit a high of Rs 802 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 765.15 so far during the day. The stock hit a 52-week low of Rs 462.30 on 15 February 2013.

The stock had outperformed the market over the past one month till 27 January 2014, rising 7.09% compared with the Sensex's 2.29% fall. The scrip had outperformed the market in past one quarter, rising 11.52% as against Sensex's 0.12% rise.

The mid-cap company has an equity capital of Rs 25.24 crore. Face value per share is Rs 2.

IPCA Laboratories' EBITDA (earnings before interest, taxes, depreciation and amortization) rose 37% to Rs 217.34 crore in Q3 December 2013 over Q3 December 2012. EBITDA margin stood at 26.09% in Q3 December 2013, higher than 22.59% in Q3 December 2012.

The company's export income jumped 19% to Rs 526.93 crore in Q3 December 2013 over Q3 December 2012.

The company reported a forex loss of Rs 2.42 crore in Q3 December 2013, lower than forex loss of Rs 18.58 crore in Q3 December 2012.

Profit before forex loss and tax jumped 44% to Rs 191.74 crore in Q3 December 2013 over Q3 December 2012.

IPCA Laboratories is a pharmaceutical company with a strong thrust on exports, which now accounts for 62% of the company's income. IPCA is vertically integrated and produces finished dosage forms and active pharmaceutical ingredients.

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