Ipca Labs hits 52-week high; up 21% in 11 days post Q3 results

The stock hit a 52-week high of Rs 671, up 5% on the BSE in otherwise weak market.

Ipca Laboratories hit a 52-week high of Rs 671, up 5% on the BSE in intra-day trade, extending its past 10 days gain, after the company reported more than doubled net profit for the quarter ended December (Q3FY18) on back of strong operational performance.

In past 11 trading days, the stock of pharmaceutical company surged 20% from Rs 556 on February 6, as compared to 1.3% decline in the S&P BSE Sensex.

Ipca Labs reported a standalone net profit of Rs 1,056 million in Q3FY18 against Rs 414 million in year ago quarter. Total income increased 15% to