Ipca Labs Q2 net nosedives 81% to Rs 12 cr

Drug firm Ipca Laboratories today reported a 80.92 per cent plunge in standalone net profit to Rs 11.69 crore for the quarter ended September 30.
The company had posted a profit of Rs 61.30 crore for the corresponding period of the previous fiscal, Ipca Laboratories said in a regulatory filing.
Standalone total income from operations stood at Rs 749.21 crore for the quarter under consideration as against Rs 780.60 for the same period year ago.
At present, 50 per cent of Ipca Laboratories income comes from exports, which is a main thrust area for the company, it said.
Ipca Laboratories manufactures over 350 formulations and 80 APIs for various therapeutic segments.

Ipca Laboratories shares were trading at Rs 774.20 in the pre-close session on BSE, down 1.21 per cent.