Total income in Q1 FY24 was at Rs 1,632.43 crore, up by 2% from Rs 1,607.85 crore posted in Q1 FY23.

EBITDA before forex grew 4% to Rs 294.13 crore in Q1 FY24 from Rs 283.46 crore posted in Q1 FY23. Consolidated EBIDTA margin (before forex (gain)/loss and other income) was at 18.53% in Q1 FY24 as against 17.88% in Q1 FY23. The company reported forex loss of Rs 13.49 crore in Q1 FY24 as against forex gains of Rs 14.23 crore recorded in Q1 FY23.

Revenue from formulations business stood at Rs 1,180.60 crore in Q1 FY24, up by 9% YoY. During the quarter, income from domestic formulations business rose 14% at Rs 782.73 crore.

Revenue from APIs business declined 23% YoY to Rs 295.07 crore in the quarter ended 30 June 2023.

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.

The scrip declined 1.15% to Rs 901.20 on the BSE.