The company’s total revenue also rose 32% year-on-year to ₹2,092.6 crore from ₹1,585 crore in the same quarter last year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 28% year-on-year to ₹392.8 crore. EBITDA margins have widened to 18.8% from 19.4% YoY.
Indian formulations revenue increased 12% to ₹873 crore, while export earnings fell by 4% in ₹590.86 crore.
Following the earnings announcement, IPCA Labs shares are trading approximately 1% higher on the exchanges. ₹1,392. The stock has gained about 60% over the past 12 months.
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