Ipca Laboratories has recorded a 91 per cent growth in net profit to Rs 34.53 crore in the half year ended September 30, 2002 from Rs 18.09 crore in the corresponding period last year.

Sale has gone up by 18 per cent to Rs 272.22 crore as against Rs 230.56 crore in the same period in the previous year. Export sales for the half year increased by 28 per cent to Rs 135.36 crore as against Rs 105.88 crore in the previous year.

Two of the Ipca's formulations manufacturing plants at Athal (Silvasa) and Kandla (Gujarat) were recently inspected and approved by ANVISA, the Brazilian health regulatory authority, Managing Director Premchand Godha said in a press release here yesterday.

The company has recently incorporated a wholly-owned subsidiary company in Brazil for marketing its products in South American countries. Ipca exports its formulations, bulk drugs and drug intermediates to 90 countries across the globe.