Ipca Laboratories has dipped 4% to Rs 470, falling almost 6% from day’s high, after reporting lower-than-expected 37% year-on-year (yoy) jump in net profit at Rs 88 crore for December 2012 (Q3) quarter, due to higher raw material cost.
“Net total income grew by 14% y-o-y at Rs 705 crore, while total expenditure rose by 17% to Rs 564 crore during the recently concluded quarter. The company’s raw material cost has increased by 26% at Rs 268 crore on y-o-y basis.
Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 5% to Rs 158 crore in the third quarter of FY13 from Rs 151 crore in a year ago period. EBITDA margin declined by almost two percentage points to 22.59%
Analysts on an average had estimated that Ipca Lab will report profit of Rs 100 crore on revenue of about Rs 717 crore for the quarter.
The stock opened at Rs 487 and hit a high of Rs 497 on NSE. A combined around 200,000 shares have changed hands on the counter so far on both the exchanges.