Ipca Laboratories has rallied nearly 5% to Rs 834, also its record high on the BSE, after posted a strong 58% year-on-year (yoy) jump in its net profit at Rs 139 crore for the third quarter ended December 31, 2013 (Q3). The drug maker had a net profit of Rs 88 crore in the same period previous fiscal.
The company’s net sales increased by 17.8% at Rs 815 crore during the quarter compared to Rs 692 crore in the same period previous fiscal, Ipca Laboratories said in a filing to the BSE.
The growth was lead by the exports sales, which rose by 19.1% yoy, while domestic sales posted a growth of 15.3% yoy.
The operating profit margin is came much ahead of expectation, which expanded by 284bp yoy to end the period at 24.5%, says analyst at Angel Broking in a note.
Meanwhile, post Q3 results the stock has outperformed the market by surging 8.5% in past two trading sessions compared to a marginal 0.44% rise in benchmark S&P BSE Sensex.
The company’s net sales increased by 17.8% at Rs 815 crore during the quarter compared to Rs 692 crore in the same period previous fiscal, Ipca Laboratories said in a filing to the BSE.
The growth was lead by the exports sales, which rose by 19.1% yoy, while domestic sales posted a growth of 15.3% yoy.
The operating profit margin is came much ahead of expectation, which expanded by 284bp yoy to end the period at 24.5%, says analyst at Angel Broking in a note.
Meanwhile, post Q3 results the stock has outperformed the market by surging 8.5% in past two trading sessions compared to a marginal 0.44% rise in benchmark S&P BSE Sensex.
