Ipca Laboratories, a Rs 1265 crore plus Mumbai based pharma company, has achieved impressive performance during the second quarter ended September 2009 and declared interim dividend of 50 per cent for the year 2009-10. The company’s net profit for the quarter ended September 2009 has taken quantum jump of 75 per cent and touched to Rs 63.88 crore from Rs 36.51 crore in the corresponding period of last year. Its consolidated net sales moved up by 24.2 per cent to Rs 428.78 crore from Rs 345.20 crore. With significant growth in profits, its EPS went up to Rs 25.61 from Rs 14.55 in the last period.
The company’s exports reached at Rs 219.54 crore as against Rs 165.81 crore, a growth of 32 per cent. The aggregate formulation business moved up by 21 per cent to Rs 309.24 crore from Rs 255.15 crore and revenue from Indian operations amounted to Rs 171.49 crore as against Rs 150.11 crore. Formulations export improved by 30 per cent to Rs 137.75 crore from Rs 105.84 crore in the corresponding quarter of last year. Revenues from API business during the quarter under review reached at Rs 119.55 crore from Rs 89.25 core, a growth of 34 per cent.
For the first half ended September 2009, Ipca’s consolidated net sales increased by 23.3 per cent to R 786.55 crore from Rs 637.96 crore in the similar period of last year. Exports improved by 24 per cent to Rs 394.74 crore from Rs 318.33 crore. Its net profit went up sharply by 89 per cent to Rs 113.65 crore from Rs 60.14 crore. The EPS for the first half improved to Rs 45.56 as against Rs 23.97 in the last period.
Till date the company has filed 14 ANDAs with US FDA, of which it received approval for 9 ANDAs. The company filed 49 DMFs.