Ipca Laboratories Limited (Ipca) reported weak performance for the quarter. Revenues stood at Rs 1073.8 cr, up by 22% y-o-y. The growth in the topline was driven by a strong 17% and 30% growth in the formulations and the API segment respectively. The operating margins for the quarter contracted steeply to 15.7% attributable to higher employee costs and higher other expense. Consequently operating profit for the quarter at Rs 168.5 cr grew by a meager 2.4%. Higher depreciation charge coupled with a weak operating performance resulted in the PAT declining by 12.7% y-o-y to Rs 86 cr and missing estimates. IPCA has guided...