Total income for the year increased by 15 per cent to Rs 335.57 crore as against Rs 291.91 crore in the previous year. The board has recommended a final dividend of 25 per cent (Rs 2.50 per equity share), which along with the interim dividend of 25 per cent already paid, takes total dividend recommended for the financial year to 50 per cent (Rs 5.00 per equity share). Net profit, before exceptional items, increased by 27 per cent to Rs 24.69 crore as compared with Rs 19.45 crore in the previous year. According to a company press release, the company has improved its export performance. Export sales for the financial year has increased by 10 per cent to Rs 160.74 crore asagainst Rs 145.96 crore in the previous year.

During the year, Ipca has consolidated its presence in the bulk drugs and drug intermediates markets in the US and Europe. The export growth has been achieved in spite of major international trade slowdown due to South Asian and Russian financial turmoil.

Other income and depreciation for the year stood at Rs 21 lakh and Rs 7.03 crore respectively. Financial costs were Rs 15.11 crore, while provision for taxation stood at Rs 75 lakh. The earning per share for 1998-99 was Rs 19.75 as against Rs 15.56 in the previous year.