 "Ipca Labs shares up 4.5% as Q1 net profit rises twofold")
Shares of Ipca Laboratories on Thursday rose 4.5 per cent, after the company reported over twofold jump in its standalone net profit at Rs 47.6 crore for the first quarter ended June, on account of robust sales.
On the BSE, the scrip closed at Rs 523.05. During the day, it jumped about seven per cent to Rs 537.40.
At the National Stock Exchange, shares of the company went up 4.5 per cent to end at Rs 524.35.
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The company had posted a net profit of Rs 20.9 crore for the corresponding period of the previous financial year, Ipca Laboratories said in a filing to the BSE.
Standalone total income from operations also rose to Rs 842.2 crore, compared with Rs 756 crore in the corresponding period last year.
While income from exports for the first quarter of this financial year was up 17 per cent to Rs 441.2 crore, the Indian formulations income for the quarter was up nine per cent to Rs 345.2 crore, it said.
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