Ipca Laboratories today said its net profit rose by 58.77% to Rs 61.67 crore for the quarter ended June 30, 2011 over the same period previous fiscal.
The company had posted a net profit of Rs 38.84 crore for the quarter ended June 30, 2010, Ipca Laboratories said in a filing to the Bombay Stock Exchange (BSE).
Net sales of the company rose to Rs 526.33 crore for the quarter ended June 30, 2011 as against Rs 414.50 crore for the corresponding period previous fiscal.
"Export to over 110 countries now account for nearly 55% of the company's income," Ipca Laboratories said.
The results are based on the back of company's strong performance in both formulations and active pharmaceuticals ingredients (APIs) businesses, it added.
Shares of Ipca Laboratories today closed at Rs 333.65 apiece on BSE, down 1.69% from its previous close.