Ipca Labs Q3 net profit down marginally at Rs 63.93 cr
“The dip in net profit can be attributed to factors like Hypercity, which is still registering losses, and expenditure on new stores opened during the quarter” said Govind Shrikhande, Managing Director, Shoppers Stop Ltd (SSL).
Drug firm Ipca Laboratories said its net profit dipped marginally by 0.03 per cent to Rs 63.93 crore for the third quarter ended December 31, 2011, on account of forex losses due to rupee depreciation.
The company had posted a net profit of Rs 63.95 crore for the quarter ended December 31, 2010, Ipca Laboratories said in a filing to the BSE.
"The flat net profit is on account of forex transactions/translations losses of Rs 39.88 crore in Q3, FY'12... on account of rupee depreciation," it added.
Total income of the company stood at Rs 614.83 crore for the quarter ended December 31, 2011, as against Rs 466.36 crore for the corresponding period last fiscal.
The company also said its board has declared a second interim dividend of Re 1 per share for the 2011-12 financial year.
Shares of Ipca Laboratories settled at Rs 298.50 apiece on the BSE today, up 5.25 per cent from their previous close.