IPCA Laboratories Q4 results: Net profit declines 41% to Rs 76.52 crore

The company's consolidated revenue from operation rose by 17.3 per cent to Rs 1,512 crore for the March quarter

Q4 earnings, Q4, Q4 results

Imaging: Ajay Mohanty

BS Web Team New Delhi

Listen to This Article

IPCA Laboratories Ltd, on Monday, posted a consolidated net profit of Rs 76.52 crore for the March quarter. This is 41.3 per cent fall from Rs 130 crore a year ago, the company statement said.

The company’s consolidated revenue from operation rose by 17.3 per cent to Rs 1,512 crore for the March quarter as compared to Rs 1,289 crore in the year-ago period, the company said in a regulatory filing.

In April, Ipca Laboratories said the US Food and Drug Administration (USFDA) has issued three observations under form 483 for the company’s formulation manufacturing facility at Piparia, near Silvassa.

The observations were followed by the USFDA inspection at the site from April 18 to April 26. The company told stock exchanges it will work closely with the drug administrator to resolve the issues.

Ipca’s US business suffered after the USFDA put import bans on three of its sites: Silvassa, Indore SEZ, and API plant in Ratlam. Mumbai-based Ipca drew 46.89 per cent of its revenues from exports in FY22. Of this, around 20 percent came from the US, according to the company’s FY22 annual report.

Ipca said that it saw status quo from the USFDA on its plants with no developments.

Also Read

IPCA Labs stock hits valuation hurdle on Unichem stake acquisition

Ipca Labs dips 9%, hits 52-wk low on plan to buy 33.4% stake in Unichem Lab

From Adani Wilmar to Havells India: Q4 results to watch out for today

IPCA Labs to buy 33.4% stake in Unichem Laboratories for Rs 1,034 crore

Ipca Laboratories to acquire 33% stake in Unichem for 1,034 crore

Salasar Techno Engineering Q4 doubles to Rs 14.73 cr due to higher income

Karnataka Bank Q4 results: Net profit up 171.5%, dividend declared

Barbeque Nation posts Q4 loss of Rs 11.60 cr, revenue up 11.6% to Rs 280 cr

Godfrey Phillips India Q4 net up 6.4% to Rs 110 cr, revenue rises 14.3%

Power Finance Corp Q4 profit rises 44% to Rs 6,128 cr on higher revenues

First Published: May 29 2023 | 3:55 PM IST

Explore News