Ipca Labs rallies 9%, hits all-time high on hopes of healthy Q2 results

In Q2FY21, the company's Ebitda margins are likely to improve 740 basis points YoY to 28 per cent

Shares of Ipca Laboratories hit an all-time high of Rs 2,319 after rallying 9 per cent on the BSE on Tuesday in an otherwise range-bound market. The pharmaceutical company's stock surpassed its previous high 2,268, touched on October 1, 2020.

For the April-June quarter (Q1FY21), Ipca had reported over three-fold jump in its consolidated net profit st Rs 446 due to robust sales. The company had posted a net profit of Rs 129 crore for the corresponding period of the previous fiscal. Consolidated total income rose 41 per cent year on year (YoY) at Rs 1,546 crore. The company