The company has received a communication from USFDA that they have determined the inspection classification of this manufacturing facility as “Voluntary Action Indicated (VAI). Based on this inspection, this facility is considered to be in a minimally acceptable state of compliance with regards to current good manufacturing practice (CGMP).

IPCA Laboratories is a pharmaceutical company with a strong thrust on exports which now account for 47% of company's income. IPCA is vertically integrated and produces finished dosage forms and active pharmaceutical ingredients.

Ipca Laboratories reported 14% jump in consolidated net profit to Rs 162.82 crore during the quarter as compared with Rs 143.06 crore posted in corresponding quarter last year. Revenue from operations increased by 0.12% to Rs 1,587.58 crore in Q1 FY24 from Rs 1,585.74 crore in Q1 FY23.