by Ritmbarah Arora
In the midst of earning season, Hindalco Industries’ share price dropped with a fall in its net profit while Ipca Laboratories’ share price jumped 5% on strong third quarter numbers. Check out the latest results here.
IPCA Laboratories sees a strong Q3 with a rise of 24% in consolidated net profit
Headquartered in Mumbai, IPCA Laboratories is an international pharmaceutical company selling APIs and their intermediates worldwide. It produces over 150 formulations including oral liquids, tablets, dry powders and capsules. The products of the company include formulations, drug intermediates and active pharmaceutical ingredients (APIs).
IPCA Laboratories reported a 24.2% rise in its consolidated net profit at Rs 197.5 crore for the third quarter ending the present fiscal year against Rs 159.1 crore in Q3FY19. Total income increased to Rs 1,230.9 crore for Q3FY20 versus Rs 1,019.5 crore for the corresponding quarter, previous year. Revenue from operations jumped 21% YoY to Rs 1,212.9 crore for the quarter under consideration while profit before tax stood at Rs 234.4 crore, a rise of 19.3% from Rs 196.5 crore in the year ago period.
The shares of IPCA Laboratories closed at Rs 1,323, up 6% from previous close. The board of the company has declared a dividend of Rs 5 per equity share with a record date on February 20, 2020. IPCA Laboratories is listed in 28 screeners on Trendlyne.
Hindalco Industries reported a YoY decline in its net profit by 24%
Mumbai headquartered Hindalco Industries is an aluminium and copper manufacturing company. It is a subsidiary of the Aditya Birla group and is one of the world’s largest aluminium rolling companies and one of the biggest producers of primary aluminium in Asia.
Hindalco Industries posted a fall in its consolidated net profit by 24% YoY at Rs 1,062 crore for the third quarter ending December 31, 2019 versus Rs 1,394 crore in the year ago period. Revenue of the company declined 14.4% to Rs 10,230 crore in Q3FY20 from Rs 11,944 crore in the corresponding quarter, previous year.
Profit before tax decreased to Rs 307 crore from Rs 338.1 crore in Q3FY19 while EBITDA rose 9.3% to Rs 1,013 crore against Rs 927 crore and EBITDA margin was up 201 bps at 9.9% versus 7.8% YoY in the same quarter, last year. Novelis, a subsidiary of Hindalco Industries reported a jump of 37% in its net income YoY to $107 million in Q3FY20. The share price of Hindalco Industries surged 0.4% after Novelis posted its third quarter results.
Managing Director of Hindalco Industries, Satish Pai commented on the Q3 results, “For the past few years, Hindalco has continuously focused on improving plant operations. These efficiencies have helped us stay strong and steady amid weak markets. Despite global conditions, Novelis showed an increase in can and auto sheet shipments, spurred by growing consumer preference for sustainable packaging options and automotive closed-loop recycling systems”. Hindalco Industries is listed in 16 screeners on Trendlyne.