IPCA Lab stock trades flat post-Q4 announcement

IPCA Laboratories share price NSE: Shares of Ipca Laboratories edged lower on May 30, Tuesday, a day after the pharmaceutical company based in Mumbai reported its Q4 earnings.

IPCA Laboratories share price NSE: Shares of Ipca Laboratories edged lower on May 30, Tuesday, Image: Freepik/ Representational image

IPCA Laboratories share price NSE, IPCA Laboratories share price target: Shares of Ipca Laboratories edged lower on May 30, Tuesday, a day after the pharmaceutical company based in Mumbai reported its Q4 earnings. The stock opened at Rs 690, down from its Monday's close of Rs 689.1 on the NSE. IPCA Laboratories shares finished down 0.25 per cent or Rs 1.75 at Rs 687.35 apiece on NSE.

IPCA Laboratories share price target

Brokerage Nomura maintains a neutral rating on Ipca Laboratories with a target price of Rs 911 post-Q4 announcement.

IPCA Labs Q4 result: Net profit slips 30% YoY to Rs 84.82 crore

IPCA Laboratories posted a consolidated net profit of Rs 84.82 crore for the January-March quarter (Q4FY23) against Rs 110.14 logged in the year-ago period, down around 30 per cent, according to the company's statement, released on May 29, Monday.

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Its consolidated revenue from operations declined 15.9 per cent year-over-year (YoY) to Rs 1,401.63 crore during the quarter under review as compared to Rs 1,177.80 crore registered in the corresponding period of the preceding fiscal.

IPCA Laboratories' share price history

IPCA Laboratories' stock has given a positive return of around 24 per cent in the last 12 months (since May 30, 2022). In comparison, the headline index, Nifty 50, has rallied nearly 12 per cent.

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