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Ipca Labs net profit up 18 percent to Rs 192 crore in Q1
Mumbai: Ipca Laboratories has announced that its consolidated net profit for the first quarter ended June 30, 2024, rose by 18 percent to Rs 192 crore, driven by strong domestic sales. The company had reported a net profit of Rs 163 crore for the same period in the previous fiscal year.
According to a regulatory filing, the company’s revenue from operations increased to Rs 2,093 crore in the April-June quarter, up from Rs 1,585 crore in the corresponding period last year.
Ipca Laboratories also reported a 12 percent year-on-year growth in domestic formulations income, reaching Rs 873 crore in the first quarter. However, export income decreased by 4 percent year-on-year, totaling Rs 591 crore during the June quarter.
Ipca is vertically integrated and produces Finished Dosage Forms (PDFs) and Active Pharmaceutical Ingredients (APIs)
Read also: Ipca Labs enters into technology transfer agreement with Omexa Formulary
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751