Ipca Labs slides as Q4 PAT drops 22% YoY to Rs 60 cr

Ipca Laboratories slipped 2.55% to Rs 1,285.75 after the company's consolidated net profit 22.12% declined 59.59 crore in Q4 FY24 as against Rs 76.52 crore reported in Q4 FY23.

However, revenue from operations jumped 34.49% year on year to Rs 2,033.01 crore in the quarter ended 31 March 2024.

Profit before tax tumbled 40.82% to Rs 76.60 crore in the March quarter from Rs 129.44 crore posted in Q4 FY23.

EBITDA before forex gain, other income and exceptional items stood at Rs 304.59 crore, registering a growth of 78% YoY.

During the quarter, total formulations were at Rs 1163.48 crore, up 12% YoY. Domestic stood at Rs 689.83 crore (up 13% YoY) and Exports came in at Rs 473.65 crore (up 9.48% YoY) in Q4 FY24.

On a full year basis, the companys consolidated net profit rose 16.13% to Rs 547.35 crore on 23.39% increase in revenue to Rs 7,705.04 crore in FY24 over FY23.

Meanwhile, the firms board has recommended a final dividend of Rs 2 per equity share for the financial year ended 2023-24, subject to the approval of the shareholders.

Ipca Laboratories is an Indian multinational pharmaceutical company. It produces theobromine, acetylthiophene, and p-bromotoluene as active pharmaceutical ingredients (APIs). Ipca sells these APIs and their intermediates globally.

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