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.
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