Ipca Laboratories Q1 Net jumps over two-fold to Rs 145.49 cr

Drug firm Ipca Laboratories today reported over two-fold jump in its standalone net profit to Rs 145.49 crore for the quarter ended June 30, 2014, mainly on account of robust formulations sales.
The company had posted a net profit of Rs 71.77 crore for the corresponding period of the previous fiscal, Ipca Laboratories said in a filing to the BSE.
Standalone total income from operations of the company rose to Rs 935.96 crore for the quarter under consideration from Rs 805.56 crore for the same period a year ago.
Total revenue from the formulations business rose to Rs 680.92 crore for the quarter ended June 30, 2014, as against Rs 583.11 crore for the corresponding period of the previous fiscal, Ipca Laboratories said.

Active Pharmaceuticals Ingredients (APIs) also witnessed growth in revenue to Rs 247.28 crore for the first quarter of this fiscal. It was Rs 212.22 crore for the same quarter of the last fiscal, it added.
Shares of Ipca Laboratories were today trading at Rs 712.90 per scrip in the afternoon trade on the BSE, down 0.45 per cent from its previous close.