The pharmaceuticals major, IPCA Laboratories posted 17 percent rise in revenues in the fourth quarter of FY23 to Rs 1,511 crore versus Rs 1,289 crore in the same quarter of last year. Although compared with the December ended quarter, the revenues have declined.

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The earnings before interest, tax, depreciation and amortisation (EBITDA) is lower by 16 percent on a year on year basis to Rs 181 crore. The EBITDA margins have contracted to 12 percent from 17 percent year on year and 14 percent sequentially. Net profitability for the quarter has nearly halved to Rs 77 crore versus Rs 130 crore in the corresponding quarter of last year.

India revenues grew 10 percent to Rs 608 crore. Exports jumped 52 percent to Rs 156 crore, while the institutional segment revenues declined 5 percent to Rs 76 crore. Generics business clocked good performance for the fourth quarter growing 22 percent to Rs 201 crore, while the API business witnessed 30 percent revenue growth.

For the full year FY23, IPCA Labs revenues grew 7 percent to Rs 6,244 crore, while EBITDA declined 29 percent to Rs 927 crore. Margins tumbled to 14.8 percent versus 22 percent in FY22. Net profitability also nosedived 47 percent to Rs 471 crore.

The stock at Rs 80 per share is trading about 1 percent higher on the exchanges at 3 pm on May 29, post its results declaration.

(Edited by : Vahishta Unwalla)