Ipca Laboratories will hold a meeting of the Board of Directors of the Company on 14 February 2023.

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The company has acquired 2,64,600 equity shares of TWPL at Rs 400 per share between 9 December 2022 to 16 December 2022. Post acquisition, the company holds 58.88% of the paid up equity share capital of TWPL.

Trophic Wellness incorporated in the year 2010. It is debt free company and engaged in the business of manufacturing and marketing of several stock keeping units (SKUs) of Neutraceuticals under the brand name Nutricharge. Its net worth was Rs 101.42 crore in financial year 2021-2022. Its manufacturing facility is situated at Sikkim.

This further acquisition of shares will consolidate the company's holding in this profitable subsidiary and will help the company to grow its neutraceuticals portfolio and business, the company said.

Ipca Laboratories is engaged in integrated pharmaceutical company manufacturing and marketing over 350 formulations and 80 API's covering various therapeutic segments.

The company's consolidated net profit declined 42.5% to Rs 143.90 crore despite of 3.7% rise in net sales to Rs 1,600.95 crore in Q2 FY23 over Q2 FY22.

Shares of Ipca Laboratories rose 0.42% on the BSE.

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Ipca Laboratories announced that the Board of Directors of the Company at its meeting held on 11 November 2022, inter alia, have recommended the interim dividend of Rs 4 per equity Share (i.e. 400%) , subject to the approval of the shareholders.

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Net profit of Ipca Laboratories declined 42.49% to Rs 143.90 crore in the quarter ended September 2022 as against Rs 250.23 crore during the previous quarter ended September 2021. Sales rose 3.66% to Rs 1600.95 crore in the quarter ended September 2022 as against Rs 1544.43 crore during the previous quarter ended September 2021.

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