Ipca Laboratories plunges 8 per cent even as Nifty ends at record high

The shares of a pharma company, Ipca Laboratories dived down by around 8 per cent, going against the market trend when Nifty touched a record high

The shares of a pharma company, Ipca Laboratories dived down by around 8 per cent, going against the market trend when Nifty touched a record high of 15,469.65, three months since the previous record high. Sensex was also seen trading close to its all-time high but remained shy. 

Ipca Laboratories reported a decline of 20.39 per cent in consolidated total income for Q4FY21 to be Rs 1,134.58 crore compared to Rs 1,425.21 reported in Q3FY21. While consolidated net profit fell by 39.75 per cent to Rs 161.20 crore in Q4FY21 as compared to Rs 267.56 crore posted in Q3FY21. 

The company reported EPS of Rs 90.11 for the year ended March 31, 2021, as compared to Rs 47.73 for the year period ended March 31, 2020. 

Ipca Laboratories Ltd is one of the leading global pharmaceutical companies mainly involved in producing Theobromine, Acetylthiophene and P-Bromo Toluene as active pharmaceutical ingredients (APIs). The company sells these APIs and their intermediates world over. 

The company's stock closed at Rs 2,024.25 per share, down by 7.98 per cent or Rs 175.45 per share. Its 52-week high is Rs 2,455.55 while the 52-week low is Rs 1,467 on BSE.