Ipca Laboratories, a Rs.1545 crore pharma
major, has announced impressive performance during the second quarter
ended September 2010 and its net profit zoomed by 47.2 per cent to Rs.94.01 crore from Rs.63.88 crore in the corresponding period of last year. Its net sales went up by 19.9 per cent to Rs 514.29 crore from Rs.428.78 crore. The strong growth in in profits, the earnings per share moved up to Rs.7.51 as against Rs.5.12 core in the last period. The company recommended interim equity dividend of 50 per cent (Rs 1 per share).
Total revenue from formulations business went up by 28 per cent to Rs.397.04 crore from Rs.309.24 crore. The Indian formulation business increased by 29 per cent to Rs.221.94 crore from Rs.171.49 crore. Its formulation exports improved by 27 per cent to Rs.175.10 crore as against Rs.137.75 crore in the same period of last year. The sales of APIs declined marginally by 2 per cent to Rs.117.26 crore from Rs.119.55 crore as its APIs export declined by 7 per cent to Rs.76.43 crore from Rs.81.79 crore.
For the first half ended September 2010, Ipca's net profit grew by 16.9 per cent to Rs.132.85 crore from Rs.113.65 crore in the similar period of last year. Its net profit increased by 18.1 per cent to Rs.928.79 crore from Rs.786.55 crore. Exports during the first half increased by 17 per cent to Rs.461.85 crore from Rs. 394.74 crore. Its revenues from formulations business increased by 25 per cent to Rs.687.27 crore from Rs.548.69 crore and export of formulations went up 28 per cent tors Rs.297.13 crore. However, API revenues improved only by 2 per cent to Rs.241.52 crore.
Ipca has filed 20 ANDAs with US FDA out of which it received approval for 10 ANDAs. It also filed 54 DMFs for APIs.