IPCA Laboratories

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As per BSE bulk deal data, the company's promoter Usha M Chandurkar sold 40,00,000 lakh shares for Rs 1,501.52 per share, reducing her holding from 3.27 per cent as of September-end

Ipca Laboratories on Thursday said its consolidated net profit declined 58 per cent year-on-year to Rs 229 crore in the September quarter. The drug firm had reported a net profit of Rs 145 crore in the year-ago period. Revenue from operations rose to Rs 2,355 crore for the second quarter of the current fiscal year as compared with Rs 2,034 crore in the year-ago period, Ipca Laboratories said in a regulatory filing. The company said its domestic formulations business revenue stood at Rs 940 crore for the quarter, up 11 per cent from Rs 845 crore a year earlier. Export of generics stood at Rs 286 crore in the July-September period as against Rs 264 crore, registering a year-on-year growth of 8 per cent. The company said its board has approved an interim dividend of Rs 21 per share of Re 1 each for 2024-25. Shares of the company on Thursday ended 2.02 per cent up at Rs 1,538.65 apiece on the BSE.

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Shares of Ipca Labs slipped 2.82 per cent to Rs 1312.55 per share on the BSE in Friday's early morning trade

Ipca Laboratories on Tuesday said its consolidated net profit increased 18 per cent to Rs 192 crore for the first quarter ended June 30, 2024 aided by robust sales in the domestic market. The drug firm had reported a net profit of Rs 163 crore for the April-June period of last fiscal. Revenue from operations rose to Rs 2,093 crore for the April-June quarter, as compared to Rs 1,585 crore in the year-ago period, Ipca Laboratories said in a regulatory filing. The drug firm said domestic formulations income rose 12 per cent year-on-year to Rs 873 crore in the first quarter. Exports income, however, declined 4 per cent year-on-year to Rs 591 crore during the June quarter, the company said. Shares of Ipca Laboratories on Tuesday closed 1.33 per cent up at Rs 1,400 apiece on the BSE.

The uptick in share price came after the company announced that the EU Court upheld Rs 126 crore fine imposed on Ipca Labs' unit, Unichem Laboratories

The company has received voluntary action indicated (VAI) classification from the United States Food and Drug Administration (USFDA) for its Ratlam, Madhya Pradesh manufacturing facility.

Ipca shares ended the day's trade at Rs 898 apiece, down 1.6 per cent on BSE

Ipca Laboratories on Wednesday said it has completed the acquisition of a 33.38 per cent stake in Unichem for Rs 945.35 crore. Last week, Ipca got approval from the Competition Commission of India (CCI) for a 59.38 per cent stake purchase in listed Unichem Laboratories. "Post receipt of approval of CCI, the company has acquired 2,35,01,440 fully paid-up equity shares of Rs 2 each, constituting about 33.38 per cent of the paid-up equity share capital of Unichem Laboratories from one of Unichem's promoter shareholders, at a price of Rs 402.25 per equity share aggregating to Rs 945.35 crore," Ipca said in a regulatory filing. The deal was executed through a block deal on the National Stock Exchange (NSE), it added. Ipca has already made an open offer to Unichem's shareholders to acquire another 26 per cent of the fully diluted outstanding equity share capital of the company at a price of Rs 440 per share, aggregating to Rs 805.44 crore. The Draft Letter of Offer (DLOF) for the open o

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The company's consolidated revenue from operation rose by 17.3 per cent to Rs 1,512 crore for the March quarter

The observations were followed by the USFDA inspection at the site from April 18 to April 26

Unichem's facilities are compliant with US regulations, but it posted losses for nine months of FY23

The shares will be purchased at the cost of Rs 440 per share post the approval from the Competition Commission of India under the Competition Act, 2002

In Q3, Ipca's operating profit margin was lowest since FY19, impacted by lower gross margins, and continued higher overheads.

The company had posted a consolidated net profit after tax of Rs 161.34 crore in the same quarter previous fiscal, Ipca Laboratories said in a regulatory filing