Drug firm Ipca Laboratories on Thursday reported a 31.19 percent decline in its consolidated net profit to Rs 306.67 crore for the quarter ended June 2021, mainly on account of rise in expenses. The company had posted a net profit of Rs 445.68 crore from the continuing operations for the corresponding period of the previous fiscal, Ipca Laboratories said in a regulatory filing.

The consolidated total income of the company stood at Rs 1,586.81 crore for the quarter under consideration. It was Rs 1,546.49 crore for the same period a year ago, it added. Total expenses of the company rose to Rs 1,206.94 crore for the quarter ended June this year. It was Rs 999.85 crore for the year-ago period, Ipca Labs said.

Shares of Ipca Laboratories closed at Rs 2,130.10 per scrip on the BSE, up 2.04 percent from their previous close.