IPCA Lab board to mull stock split on 13 Nov

The pharmaceutical company said its board will consider 2-for-1 stock split on 13 November 2021.

The board will consider splitting each share of face value Rs 2 each into two shares of face value of Re 1 each.

On 13 November 2021, the company's board will also consider Q2 results and interim dividend.

On a consolidated basis, net profit of IPCA Laboratories declined 31.26% to Rs 306.66 crore on 2.05% rise in net sales to Rs 1565.79 crore in Q1 June 2021 over Q1 June 2020.

IPCA is a fully-integrated pharmaceutical company that manufactures over 350 formulations and 80 APIs for various therapeutic segments. It is one of the world's largest manufacturers and suppliers of over a dozen APIs.

 

Shares of IPCA Laboratories were down 1.03% at Rs 2,322. The stock hit a high of Rs 2,397.40 and a low of Rs 2,281.45 so far during the day.

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