Today, IPCA Laboratories reported over two-fold jump in standalone net profit to Rs. 47.57 crore for the first quarter ended June 30. The jump was on the account of robust sales. The company had also reported a net profit of Rs. 20.92 crore in the same period of the previous financial year.
Standalone total income from operations also hiked to Rs. 842.16 crore during the quarter under review from Rs. 756.09 crore in the corresponding Quarter last financial year.
While the income from exports during the first quarter of this financial year went up by 17 per cent to Rs. 441.23 crore, the income from Indian formulations was up by 9 per cent to Rs. 345.21 crore.
IPCA share price closed at Rs. 524.35 while it was last traded at Rs. 523.70 with the rise of 4.37%. Today, the stock opened at Rs. 505against its previous close of Rs. 501.75. IPCA share price touched the intraday high of Rs. 537 and the intraday low of Rs. 493.10. IPCA is in the top 500 performers list of Dynamic Levels for the quarter. The company has strong fundamentals and has not reported any loss in last two-quarters.
IPCA share price has been trading near its closest support level of Rs. 459 while the closes resistance level stands at Rs. 529.15. For more details refer to the IPCA share price forecast page of the Dynamic Level website. For other details visit the IPCA share price history page.
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