World's biggest maker of anti-malarial drugs struggling to combat market pressure
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Shares of IPCA, which got hit by import alerts on 3 of its plants, said its first quarter profit plunged 86 percent to 18.9 crore rupees from 136.7 crore rupees in the year ago quarter. Sales for April-to-June fell 19 percent to 758 crore rupees from 936 crore rupees in the year ago period. IPCA faced a
As a consequence, IPCA fell 3.4 percent, or 23 rupees, to 667 rupees, its lowest level since June 22nd, on the
The market capitalisation of IPCA has fallen 4 percent in one year to 8,740 crore rupees as the company grappled with falling sales and an intrusive check by the US FDA.
(Image credits: Indiatimes)
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