Ipca Laboratories gained 1.07% to Rs 598.85 at 15:00 IST on BSE after the company announced that net profit jumped 345.29% to Rs 54.95 crore on 17.38% rise in total income to Rs 891.25 crore in Q2 September 2016 over Q2 September 2015.
The result was announced during market hours today, 11 November 2016.Meanwhile, the S&P BSE Sensex was down 632.94 points or 2.3% at 26,884.74.
High volumes were witnessed on the counter. On BSE, so far 1.05 lakh shares were traded in the counter as against average daily volume of 34,209 shares in the past one quarter. The stock hit a high of Rs 618 and low of Rs 575 so far during the day. The stock had hit a 52-week high of Rs 888 on 19 August 2015. The stock had hit a 52-week low of Rs 402 on 6 June 2016. The stock underperformed the market over the past one month till 10 November 2016, declining 4.47% compared with 2.01% fall in the Sensex. The scrip however outperformed the market in past one quarter, gaining 17.96% as against Sensex's 0.93% fall.
The mid-cap company has equity capital of Rs 25.24 crore. Face value per share is Rs 2.
Ipca Laboratories' earnings before interest, tax, depreciation and amortization (EBITDA) margin rose to 14.68% in Q2 September 2016 from 11.25% in Q2 September 2015. The company's Indian formulations income rose 23% to Rs 404.36 crore in Q2 September 2016 over Q2 September 2015. Exports income rose 10% to Rs 410.34 crore in Q2 September 2016 over Q2 September 2015.
Ipca Laboratories is vertically integrated and produces finished dosage forms and active pharmaceuticals ingredients.
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