IPCA Labs turns volatile after Q1 results

IPCA Laboratories rose 0.30% to Rs 648.70 at 13:55 IST on BSE after net profit jumped 67% to Rs 71.77 crore on 26% increase in net total income to Rs 810.01 crore in Q1 June 2013 over Q1 June 2012.

The result was announced during trading hours today, 30 July 2013.

Meanwhile, the BSE Sensex was down 156.62 points, or 0.80%, to 19,436.66.

On BSE, 1.37 lakh shares were traded in the counter compared with average volume of 26,000 shares over the past two weeks.

The counter turned volatile after the company announced Q1 results. The stock rose 4.96% at the day's high of Rs 678.80. It fell 0.85% at the day's low of Rs 641.25.

Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 21% to Rs 171.02 crore Q1 June 2013 over Q1 June 2012. EBITDA margin was reported at 21.23% in Q1 June 2013.

Export income grew 35% to Rs 496.54 crore in Q1 June 2013 over Q1 June 2012.

During the period under review, total revenue from formulations business rose 29% to Rs 580.31 crore. Revenue from domestic branded formulations business rose 12% to Rs 250.36 crore 12%. Revenue from export of formulations rose 47% to Rs 329.95 crore.

In the same period, total revenue from Active Pharmaceutical Ingredients (APls) business rose 17% to Rs 212.22 crore. Revenue from domestic APls business rose 16% to Rs 45.63 crore. Revenue from export of APls rose 17% to Rs 166.59 crore.

IPCA Laboratories is a fast growing pharmaceutical major, with a strong thrust on exports. Exports to over 120 countries, now account for nearly 61% of Company's income. Ipca Laboratories is vertically integrated and produces finished dosage forms and APIs.

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