Ipca Laboratories Reports Dip in Quarterly Profit Despite Revenue Growth

Ipca Laboratories announced a 58% decline in its net profit to Rs 229 crore for the September quarter. Despite this, the company's revenue from operations increased to Rs 2,355 crore. Domestic formulations and export of generics also saw growth. An interim dividend was also declared.

Ipca Laboratories revealed a steep 58% drop in its net profit to Rs 229 crore for the recent September quarter, marking a significant year-on-year decrease.

Despite this decline, the pharmaceutical giant reported an increase in its revenue from operations, which rose to Rs 2,355 crore compared to Rs 2,034 crore during the same period last year.

The company attributed part of its growth to the domestic formulations segment, which generated Rs 940 crore, up by 11% from last year's Rs 845 crore, and noted an 8% boost in generic exports. An interim dividend of Rs 21 per share has been approved by the board for the 2024-25 fiscal cycle.

(With inputs from agencies.)