Ipca Labs declines after weak Q2 results

Ipca Laboratories fell 1.93% to Rs 648.55 at 13:43 IST on BSE after net profit fell 52.65% to Rs 61.30 crore on 7.36% fall in total income to Rs 789.31 crore in Q2 September 2014 over Q2 September 2013.

The result was announced during trading hours today, 10 November 2014.

Meanwhile, the BSE Sensex was down 68.98 points, or 0.25%, to 27,799.65.

On BSE, so far 1.65 lakh shares were traded in the counter, compared with an average volume of 45,698 shares in the past one quarter.

The stock hit a high of Rs 675.50 and a low of Rs 636.65 so far during the day. The stock hit a record high of Rs 906.90 on 28 February 2014. The stock hit a 52-week low of Rs 635 on 5 November 2014.

The stock had underperformed the market over the past one month till 7 November 2014, falling 12% compared with 6.08% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.77% as against Sensex's 8.91% rise.

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

Ipca Laboratories' earnings before interest, taxes, depreciation and amortization (EBITDA) fell 43% to 134.77 crore in Q2 September 2014 over Q2 September 2013. EBITDA margin decreased to 17.26% in Q2 September 2014 compared with 27.70% in Q2 September 2013.

The company's export income fell 23% to 402.44 crore in Q2 September 2014 over Q2 September 2013.

Ipca Laboratories is a fast growing company with a strong thrust on exports which now account for 57% of company's income. Ipca is vertically integrated and produces finished dosage forms and active pharmaceuticals ingredients.

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