IPCA Labs reports 35% YoY rise in Q3 PAT

On a consolidated basis, IPCA Laboratories reported 35% jump in net profit to Rs 267.56 crore on a 16% rise in net total income to Rs 1425.21 crore in Q3 FY21 over Q3 FY20.

EBITDA improved by 30% to Rs 377.32 crore in Q3 December 2020 as against Rs 290.03 crore in Q3 December 2019. The company recorded a forex gain of Rs 4.99 crore during the quarter as against gain of Rs 1.76 crore in the same period last year. Tax expense increased 54% year-on-year (YoY) to Rs 56.73 crore.

On a standalone basis, the company's net profit increased by 32% to Rs 259.97 crore on a 15% jump in net total income to Rs 1330.87 crore in Q3 FY21 over Q3 FY20.

On the segmental front, the revenue from the formulations business was at Rs 954.34 crore (up 14% YoY) while that from the APIs was Rs 352.07 crore (up 23% YoY) in the third quarter.

IPCA Laboratories is a vertically integrated pharmaceutical company. It produces finished dosage forms and active pharmaceutical ingredients (APIs).

The scrip fell 2.48% to Rs 1987.35. It traded in the range of 1980 and 2057.65 so far during the day.

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