Veterinary drugs player Hester Biosciences Ltd, on Monday, reported a 41 per cent increase in net profit and 10 per cent in sales in the third quarter of 2015-16, ended December 31, 2015, as compared to the corresponding period last fiscal.
While the company’s sales were Rs 24.17 crore (Rs 21.88 crore), net profit stood at Rs 4.76 crore (Rs 3.37 crore), Rajiv Gandhi, Managing Director and CEO, said in a statement here.
With poultry vaccines still being the primary contributor towards sales, the recent slump in the poultry industry impacted the sales of poultry vaccines and health products. Poultry meat and egg producers were unable to recover their production costs thereby resulting into decrease in the poultry population across the country. The situation has considerably improved since mid December 2015 and the industry is back on an upswing, he added.
Trial production has commenced at the company’s Nepal plant.
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Published on January 25, 2016
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