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Results: Ipca Labs Q4 profit up 94% at Rs 161 cr; share prices go up

03:52 PM May 28, 2021 | PTI

Drug firm Ipca Laboratories on Friday reported 94.09 percent rise in consolidated net profit at Rs 161.20 crore for March quarter 2020-21 mainly on account of higher sales and reduction in expenses.

The company posted a net profit of Rs 83.05 crore for the same period a year ago, Ipca Labs said in a filing to BSE.

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Total income stood at Rs 1,134.58 crore in the quarter under review. It was Rs 1,087.49 crore in March quarter 2019-20, it added.

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Total expenses were Rs 939.95 crore in the quarter ended March 31, 2021 as against Rs 972.91 crore in the year-ago period, it said.

For 2020-21, the company posted a net profit of Rs 1,141.14 crore as against Rs 603.56 crore in the previous fiscal year, Ipca Labs said.

Total income during the last financial year was Rs 5,482.83 crore. It was Rs 4,715.71 crore in 2019-20, it added.

In a separate filing, Ipca Labs said its board has approved reappointment of Prashant Godha as Executive Director of the company for a further period of 5 years with effect from August 16, 2021.

Shares of Ipca Laboratories were trading at Rs 2,132.30 per scrip on BSE, down 3.06 per cent from the previous close.

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