India's Ipca Laboratories gains on rise in quarterly profit

Ipca Laboratories

14/02/2024 08:57

** Shares of Ipca Laboratories  IPCA.NS  rise as much as
4.04% to 1,207.50 rupees apiece
    ** The active pharmaceutical ingredients (API) manufacturer
reports 67% year-on-year rise in consolidated net profit to 1.80
bln rupees
    ** Revenue from operations gains 33% to 20.53 bln rupees
    ** IPCA is among the only five gainers among 19 pharma
stocks; pharma index  .NIPHARM  slips 1.27% as of 2:12 p.m. IST
    ** The mean recommendation of the 14 analysts tracking IPCA
is "hold", median price target at 985 rupees, 18.4% lower than
the current price - LSEG data

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))