IPCA Laboratories Q2 Results: Profit Falls, Misses Estimates

IPCA Laboratories Ltd.’s second-quarter profit fell, missing estimates.

The Mumbai-based bulk and formulation drugmaker’s net profit fell 42% year-on-year to Rs 144 crore in the quarter ended September, according to its exchange filing. That compares with the Rs 218-crore consensus estimate of analysts tracked by Bloomberg.

IPCA Laboratories Q2 Highlights (YoY)

• Revenue was up 4% at Rs 1,601 crore, against an estimate of Rs 1,655 crore.

• Ebitda was down 29% at Rs 261 crore, against the Rs 337-crore forecast.

• The margin stood at 16.3% against 23.7%. That compares to the forecast of 20.4%.

• Board declared interim dividend of Rs 4 per share

Overall sales from formulations rose 12% year-on-year, while those from bulk drugs fell 15%.

Shares of IPCA Laboratories fell 4.36% as of 1:28 p.m. post earnings, compared with a 1.86% rise in the benchmark S&P BSE Sensex.