Mumbai, July 24: Ipca Laboratories' net profit has jumped 33 per cent jump to Rs 6.82 crore for the first quarter ended June 30, 1998 as against Rs 5.14 crore in the previous corresponding period. Total income during the quarter rose 16 per cent to touch Rs 76.01 crore as against Rs 65.38 crore last year.The company said that its improved performance is mainly on account of growth in the formulation sales in the domestic and international markets. The company has also lined up a slew of new formulation launches.
Ipca has already registered its drug master files with the authorities of 11 developed countries. The company's bulk drugs and drug intermediates are used by several multinational companies world wide.
Total expenditure for the period was higher at Rs 63.51 crore as against Rs 55.95 crore in the previous year, while financial costs rose to Rs 3.90 crore. Depreciation and provision for taxation stood at Rs 1.58 crore and Rs 20 lakh.
Annualised earnings per share (EPS) based on the company'sfirst quarter net profit of Rs 6.82 crore works out to Rs 21.82.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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