Ipca Laboratories is trading higher by 3% at Rs 694, extending its previous day’s 2% gain in otherwise weak market, after reporting over 400 bps year on year (yoy) improvement in EBITDA or operating margins at 27.70% for the quarter ended September 2013 (Q2) against 23.28% in year ago quarter.
The company’s net profit during the quarter under review however, grew marginally by 3% at Rs 129 crore on yoy basis, mainly on account of forex loss of Rs 40 crore. The pharmaceutical company had profit of Rs 125 crore in the same quarter year ago. Net total income up 10% at Rs 852 crore on yoy basis, Ipca Laboratories said in a statement.
Analyst at Angel Broking recommends an “Accumulate” on the stock with a price target of Rs 724.
The stock opened at Rs 677 and touched high of Rs 696 on BSE. A combined around 263,000 shares have changed hands on the counter till early noon deals on BSE and NSE.
The company’s net profit during the quarter under review however, grew marginally by 3% at Rs 129 crore on yoy basis, mainly on account of forex loss of Rs 40 crore. The pharmaceutical company had profit of Rs 125 crore in the same quarter year ago. Net total income up 10% at Rs 852 crore on yoy basis, Ipca Laboratories said in a statement.
Analyst at Angel Broking recommends an “Accumulate” on the stock with a price target of Rs 724.
The stock opened at Rs 677 and touched high of Rs 696 on BSE. A combined around 263,000 shares have changed hands on the counter till early noon deals on BSE and NSE.
