IPCA Laboratories Profit Dips By 35%, Revenue At Rs 1637 Cr In Q2FY23

Ipca Laboratories on Friday announced its consolidated financial results for the second quarter that ended 30th September 2022, the pharmaceutical company registered a drop of 35 per cent in its net profits quarter on quarter, with the company's net profit for the second quarter at Rs 167.7 crores against Rs 257.6 crores in the same quarter last year.

The company recorded an overall revenue of Rs 1637.18 crores in quarter two of the financial year 2023(Q2FY23) against Rs 1562.51 crores recorded in the corresponding quarter in the previous year, a jump of 4.7 per cent quarter on quarter.

The company's EBITDA margin came at 18.84 per cent in Q2 FY23 as against 23.30 per cent in Q2 FY22.

IPCA posted an EBITDA of Rs 1,413.36 crores for the second quarter down by 12.4 per cent quarter on quarter from Rs 1,236.87 crores registered in the corresponding quarter of last year.

The company in a statement said that its Indian formulations income was up by 10 per cent at Rs. 765.72 crores, whereas its exports income was down by 1 per cent at Rs 628.72 crores.

The pharma company's stock was trading 2.7 per cent lower at Rs 865 a piece on Friday as of 14:17 IST.