Ipca Lab shares jump over 5 pc post Q2 results

Ipca Laboratories shares on Thursday jumped over 5 percent after the company reported a 63.27 percent rise in consolidated net profit in the September 30 ended the quarter. The scrip climbed 5.17 percent to close at Rs 1,062.65 on the BSE. During the trade, it advanced 9.16 percent to Rs 1,103 -- its 52-week high.

On the NSE, it rose 4.93 percent to close at Rs 1,061. Ipca Laboratories on Thursday reported a 63.27 percent rise in consolidated net profit at Rs 193.54 crore in the second quarter ended September 30.

The company had posted a consolidated net profit of Rs 118.54 crore in the same period last fiscal, Ipca Laboratories said in a regulatory filing. Revenue from operations during the period under review stood at Rs 1,283.9 crore as against Rs 1,012 crore in the year-ago quarter, it added.

During the second quarter, the revenue of domestic formulations business grew 16 percent to Rs 543.21 crore as compared to Rs 468.62 crore in the corresponding period a year ago, the company said.

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