IPCA posts 42% rise in net to Rs 35 cr

CORPORATE SCORECARD

Ipca Laboratories has posted a net profit of Rs 34.72 crore for the quarter ended June 30, 2007, up 42 per cent, compared with Rs 24.34 crore for the quarter ended June 30, 2006.

Total Income (net of excise & sales tax) has increased by 11 per cent from Rs 222 crore for the quarter ended June 30, 2006 to Rs 247.2 crore for the quarter ended June 30, 2007.

Recently Ipca received the US Food and Drug Administration (FDA) approval for hydroxychloroquine sulfate tablets, with annual sales of $50 million in the US and roped in Ranbaxy Pharmaceuticals as its partner to commercialise this product in the US market.

Three products of Ipca are marketed in the US by Ranbaxy, the other two are Furosemide and Atenolol tablets.

Ipca is one of the largest producers of the active pharmaceutical ingredient hydroxychloroquine sulfate in the world and has registrations in various countries.

Ipca's share prices closed on the Bombay Stock Exchange (BSE) today at Rs 715, an increase of 1.21 per cent, from the previous day close of Rs706.45.