Ipca Labs slips 5%, hits 52-week low on weak December quarter results

In Q3, Ipca's operating profit margin was lowest since FY19, impacted by lower gross margins, and continued higher overheads.

Shares of Ipca Laboratories hit a 52-week low of Rs 818.25 as they slipped 5 per cent on the BSE in Friday's intra-day trade as brokerages reduced their FY24/FY25E earnings per share (EPS) estimates for the company post its weak December quarter results.

The company's consolidated Ebitda (earnings before interest, taxes, depreciation, and amortization) margin contracted 486 bps to 16.67 per cent in December quarter (Q3FY23). On sequential basis, Ebitda margins were down 200bps, impacted by lower gross margins and negative operating leverage.

The stock of the pharmaceutical company has fallen below its previous low of Rs 823.95,