Hester Biosciences profit falls 60 pc to Rs 5 crore in Q4

Published On 2020-06-29 06:00 GMT | Update On 2020-06-29 06:00 GMT

Ahmedabad: Leading animal healthcare company Hester Biosciences on Friday reported 60 per cent fall in its Q4 FY20 net profit at Rs 5 crore as compared to Rs 12 crore in Q4 FY19.

Net sales dropped by 15 per cent to Rs 41 crore from Rs 49 crore in the same period. Earnings per share came down by 60 per cent to Rs 5.88 from Rs 14.55.

The animal and poultry vaccines manufacturer said it invested in sales and marketing in order to drive an increase in sales by covering larger territories and expanding presence in the market through additional field force.

The investment did not provide commensurate growth, resulting into high costs which impacted the bottom line, the company said in a statement.

Hester's poultry health division showed a de-growth by 5 per cent due to the industry which remained in a recessionary condition throughout the year. Things seemed to improve in January but was subject to a setback from mid-February.

The animal health division registered a growth of 6 per cent but supplies under tenders which were expected to be executed in Q4 have got delayed.

The board of directors has recommended a dividend of Rs 6.60 per equity share (66 per cent) for FY20. This dividend recommendation is in line with the company's policy to distribute a minimum of 18 per cent of profit after tax.

Article Source : ANI

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Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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Hester Biosciences profit falls 60 pc to Rs 5 crore in Q4

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