Ipca Laboratories Sees 18% Profit Surge in Q1

Ipca Laboratories' net profit rose by 18% to Rs 192 crore for Q1 ending June 30, 2024, driven by strong domestic sales. Revenue from operations increased to Rs 2,093 crore, while domestic formulations grew by 12%. However, exports declined by 4%. Shares closed at Rs 1,400 on the BSE.

Ipca Laboratories announced on Tuesday that its consolidated net profit soared by 18 percent to Rs 192 crore for the first quarter ending June 30, 2024. This growth was primarily fueled by robust sales in the domestic market.

For the corresponding period of the previous fiscal year, the drug firm had reported a net profit of Rs 163 crore. Revenue from operations climbed to Rs 2,093 crore in the April-June quarter, compared to Rs 1,585 crore in the same period last year, according to the company's regulatory filing.

Domestic formulations income saw a year-on-year increase of 12 percent, reaching Rs 873 crore in the first quarter. On the other hand, exports revenue declined by 4 percent year-on-year to Rs 591 crore during the June quarter. Shares of Ipca Laboratories closed at Rs 1,400 each on the BSE on Tuesday, marking a 1.33 percent rise.