Ipca Labs Q1 net loss at Rs 20.25 cr

Drug firm Ipca Laboratories today reported a standalone net loss of Rs 20.25 crore for the first quarter ended June, mainly on account of dip in sales in both domestic market and overseas.
The company had posted a net profit of Rs 47.57 crore for the corresponding period of previous fiscal, Ipca Laboratories said in a regulatory filing.
Net total income of the company also declined to Rs 719.14 crore for the quarter under consideration as against Rs 859.54 crore for the same period a year ago.
Income from Indian formulations was down by 17 per cent at Rs 295 crore, while export income dipped by 16 per cent at Rs 371.12 crore, the company said.

Shares of Ipca Laboratories ended 2.40 per cent down at Rs 410.85 on BSE.