Ipca Laboratories Limited (IPCA) reported a stellar performance for the quarter backed by impressive growth in the API segment. The revenues at Rs 1534 crore grew by 42.3% y-o-y on the back of sturdy 72% y-o-y growth in the API segment, while the formulations business was up by 36.6% y-o-y. The operating profit was up 195% y-o-y to Rs 587 crore. The operating margins surprised positively expanding by 1983 BPS y-o-y to 38.3%, attributable to favorable mix, low costs and expansion in gross margins. Strong operating performance percolated to the bottom line as well. Therefore the PAT at Rs 445 cr was up 243% y-o-y and was ahead of estimates. IPCA has guided for...